€1.15m for four retail units let to Paddy Power could be worth a punt
Four freehold investment properties promising yields of between 9pc and 13pc will be offered up for auction this Wednesday by auctioneer, Matt Dunne. Located in Dublin, Offaly and Tipperary, all four premises are occupied by bookmakers Paddy Power on 10-year leases on an FRI basis with five-year break clauses.
Lot one is a modern 1,200 sq ft shop located adjacent to the Gate Bar on Crumlin Road in Drimnagh, Dublin 12. With a total rent of €38,000 per annum, the guide price of €400,000 suggests a yield of 9pc per annum.
Lot two consists of a modern, extended 1,400 sq ft shop and two recently-refurbished apartments overhead. With the shop delivering annual rental income of €35,000 and the apartments upstairs producing a total rent of €10,000 per annum, the property's guide price of €350,000 equates to a yield of 12pc.
Lot three at Westgate in Clonmel, Co Tipperary consists of a modern shop premises and two apartments. With the shop delivering annual rent of €18,500 and the apartments producing a combined minimum of €10,000 in rental income per annum, the guide price of €200,000 indicates a yield of approximately 13pc.
Lot 4 on Main Street, Templemore, Co. Tipperary consists of a modern shop with two apartments overhead, and parking. With the shop producing rental income of €18,500 per annum and with a minimum of €10,000 in rent coming from the apartments annually, the property's €200,000 guide price suggests a yield of 13pc.
The four properties can be bought in one lot or individually at the auction this Wednesday at 3pm in Wynn's Hotel, Abbey Street, Dublin 1.