Retail & OfficesThere should be plenty of takers for the Ulster Bank in Lucan at over €3 million and Xtra-vision in Rathgar at over €2 million, writes Jack Fagan

Two attractive retail and office investments in Rathgar, Dublin 6, and Lucan, Co Dublin, are likely to attract considerable interest when they come on the market this week through Bogle Estates.

Ben Pearson of the agency is quoting over €3 million for a high profile building let to Ulster Bank at the Village Weir in Lucan. The current rent of €81,898 was due to be reviewed in March 2006, and is likely to rise to about €120,000. There is a further 25 years to run on the lease.

The modern two-storey building with a floor area of 283.73sq m (3,054sq ft) is in top class condition. There is a banking hall with back-up offices and strong rooms on the ground floor, and further offices and a canteen at first floor level.

The bank overlooks the famed Lucan Weir on the Liffey and has seven on-site car-parking spaces.

The same agent is suggesting over €2 million for the second investment at 27/29 Orwell Road in Rathgar which is producing rents of €77,000 from Xtra-vision on the ground floor and an accountancy firm overhead. Xtra-vision's lease of the 105sq m (1,130sq ft) ground floor runs for 35 years from 1998.The current rent of €47,000 is due to be reviewed in June 2008. The upstairs offices are let on a 20-year lease from 1998. They have since been sub-let to Time Point Ltd. There is a break option in 2008 subject to six months' notice and a penalty of three months rent.

Ben Person says that both investments would be ideal for personal and family pension plans. They are to be sold at tender on March 28th.