An attractive retail investment on Temple Road, Blackrock, Co. Dublin is to be offered for sale from today through QRE Real Estate Advisers. The property is arranged to provide a two storey building extending to a floor area of approximately 145 sq. m (1,562 sq. ft) in total. The ground floor unit is in use as a hair salon and is let to Brian Roberts Ltd for a term of 35 years from August 1995 at an annual rent of €27,500 per annum. The lease provides for rent reviews every fifth year. The first floor provides open plan office accommodation and is being sold with vacant possession. Ellen Prenderville of the selling agent is quoting €425,000 which provides a net initial yield of approximately 6.2% on the current income with potential for this to increase with the letting of the first floor.
The agent states that ‘following the sale of a number of similar retail investments by QRE, we expect significant interest from investors seeking to increase the rental income and strengthen the investment”.
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