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Parnell Street retail outlets for sale for €2m

Two high-profile retail units at the Parnell Centre on Parnell Street in Dublin 1 are quoting €2 million through agent QRE Real Estate Advisors.

The shops are let to Eddie Rockets and Euro Giant with a combined weighted average unexpired lease term of 13.6 years.

Eddie Rockets rents its unit on a 35-year lease from 1996 at a rent of €100,000 per annum. Euro Giant, whose 20-year lease runs from 2012, pays rent of €95,000 per annum.

The rent roll of €195,000 reflects a net initial yield of 9 per cent after standard purchaser’s costs.

New tenants at the Parnell Centre include Wow Burger and Zombrero while a microbrewery and visitor centre are currently being developed.

Justin Cumiskey

23rd October 2018

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October 2018