With investors again looking for secure medium-sized retailinvestments in strong Dublin locations, there is likely to be good interest in the forthcoming sale of a Boots chemist in Donnybrook and a EuroGiant store at Nutgrove shopping centre in Rathfarnham, Dublin 14.
Agent Bannon is seeking in excess of €2.4 million for the attractive store developed especially for Boots at Morehampton Road in Donnybrook which will give the new owner a return of over 7.5 per cent.
The 340sq m (3,667sq ft) modern building is producing a rental income of €185,400 under a 25-year lease to Boots from 2008. The upwards-only lease provides for a break in the tenth year subject to nine months notice and a six months penalty clause.
The property, located a few doors from the highly successful Donnybrook Fair, is an ideal lot size for a small pension investor or an investor seeking a secure high yield home for a cash deposit.
Nutgrove investment
Meanwhile agent Murphy Mulhall is guiding €1.1 million for the EuroGiant outlet which is located on the main concourse in the successful Nutgrove shopping complex. EuroGiant is paying a rent of €100,000 for the 209sq m (2,249sq ft) unit which is held on a 25-year lease from 2000. This will show a yield of 8.7 per cent.
Adjacent traders include Boots and Lifestyle Sports while the centre is anchored by Dunnes Stores and Tesco.
Robert Murphy says EuroGiant continues to trade strongly as consumer seek greater value for their disposable income.
