Agent Bannon is guiding a price of €4 million for a mixed-use investment just off Main Street in Swords Co Dublin.
Burgundy House and Burgundy Court briefly comprise two mixed-use blocks consisting of four apartments, seven retail units, six office/trade units and 40 underground car spaces. The investment is currently generating a combined annual rental income of €377,000.
Should a sale proceed at the proposed €4 million guide price, the new owner would stand to secure an initial yield of about 8.5 per cent. The property is let to five tenants with several units let at below market rents, representing strong reversionary potential.
The two blocks are situated on opposite sides of Forster Way, which runs parallel to Swords Main Street. Both properties are in close proximity to Swords’ Main Street, the Swords Plaza shopping centre and the Pavilions shopping centre.
The subject property extends to a net internal area of 2,040sq m (21,960sq ft) across the two buildings. Burgundy House benefits from direct access off Swords Main Street to a courtyard which is home to a variety of retail units. The remaining retail elements front onto Fosters Way with the upper floor comprising office and retail occupiers.
Burgundy Court has a single retail unit (Polonez) at ground-floor level with a mix of retail services, office and the four residential unit on the upper floors.
Brian Morton of Bannon says: “Burgundy House and Burgundy Court offer an opportunity for investors to acquire a diverse but well-balanced mixed-use portfolio with reversionary income potential”.
