A mixed-use investment property with scope to increase the rent roll has come on the market at Main Street in Clondalkin, Dublin 22.
Johnny O’Connor of DTZ Sherry FitzGerald is guiding €650,000 for Westward House which includes four ground floor shops and two floors of offices overhead. The shops are currently producing rents of €77,408, reflecting a yield of 11.4 per cent. The offices are all vacant.
The three-storey property has an overall floor area of over 413sq m (4,450sq ft) and 21m (68ft) of frontage on to Main Street. The retail tenants are Vincent's, South Dublin County Council (who have sub-let the shop to Ray Cooks Auctioneers), Four Star Pizza and Bobo's computer repair centre.
The average unexpired term for the three leases is six years and eight months.
The two upper floors have been subdivided into five self-contained offices with their own electricity supplies. Planning approval has been granted to use the first floor as a restaurant, leaving the second floor with over 101sq m (1,090sq ft) of office space.
