A group of private investors has paid £2.9 million for 16 shops in the Merrion Shopping Centre, in Dublin 4. The overall yield works out at just under 6.5 per cent. The shops, which are producing an annual rent roll of £191,321, includes units occupied by Ulster Bank, Lifestyle, Merrion Pharmacy and Prescott Dry Cleaners. The sale will show a handsome return for Dunloe Ewart, which has held the investment since the centre was developed about eight years ago.

Mason Owen Lyons handled the sale.