Sunday 24 September 2017

Sandymount retail unit for €485,000

Quinn Agnew are seeking €485,000 for Unit 4 in the Sandymount Village Centre in Dublin 4
Quinn Agnew are seeking €485,000 for Unit 4 in the Sandymount Village Centre in Dublin 4
Peter Flanagan

Peter Flanagan

Quinn Agnew have been retained as agent over a retail unit in the heart of Dublin 4.

The firm are seeking a buyer for Unit 4 in the Sandymount Village Centre.

The property extends to some 65 sq m and is located in what Quinn Agnew’s Manus Agnew describes as the “heart of Sandymount Village”.

Mr Agnew said he expects “strong interest in the property as a regular shaped vacant unit has not been available to purchase in recent times in the Village and expects interest from both owner occupiers and investors”.

The property is one of a number of retail units to have been put on the market in recent weeks. The retail market has been reviving in recent months after years of stagnation, with rents climbing in the top parts of Dublin.

Although the improvements have been focused mainly on the hihg profile shopping streets in the centre of Dublin, property experts are increasingly seeing interest in suburban retail units on favourable lease terms either as investments or for occupation.

Sandymount remains one of the most desirable locations for residential property

Dublin offices go on the market

The Anchorage Building on Dublin's south quays has been put up for sale with an asking price of €25m.

The five storey property, which is being marketed by Peter Flanagan of BNP Paribas Real Estate, has a number of top quality clients including financial data firm Bloomberg, shipping business D'Amico, and legal company Walkers.

The property is producing a rent role of €1.25m which equates to anaverage rent of €47.20 per sdquare foot. At those rates it would produce an immediate yield of 4.8pc with scope for rent reviews in the near future.

Separately, Knight Frank have been retained to dispense with George's Dock House in Dublin's IFSC. Adrian Trueick is offering the block - owned by a Derek Quinlan led consortium - for €29m.

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