Business Commercial Property

Saturday 30 August 2014

Walkinstown investment property asking price is €875k

Tara Fitzsimons.

Published 06/04/2014 | 02:30

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174 Walkinstown Road, Dublin 12

CBRE has announced that it has been instructed to sell a well appointed suburban investment property located at 174 Walkinstown Road, Dublin 12.

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The property is being offered for sale by private treaty with an asking price of some €875,000.

Number 174 Walkinstown Road overlooks the Walkinstown Roundabout which is a major link in Dublin's busy road network.

The roundabout handles traffic from Walkinstown Road, Cromwellsfort Road, St Peter's Road, Greenhills Road, Ballymount Road and Walkinstown Avenue.

The property is situated in a densely populated residential and commercial area of south Dublin and is close to a host of industrial parks and businesses located in and around Ballymount Road and Greenhills Road.

The property, which extends to over 621 sq m, comprises a three storey modern commercial building with a distinctive curved glass front elevation.

The accommodation comprises a ground floor retail unit with two further floors of accommodation overhead.

The total current passing rent is in the region of €105,500 per annum.

The ground floor retail unit is occupied by Londis Convenience Store with Curves Gym located on the first floor and Spirit Stage School on the second floor.

The tenants are not affected by the sale.

In addition, there are licence agreements in place for two phone masts located on the roof.

Emma Courtney of CBRE stated that the sale of the investment property at 174 Walkinstown Road offered an excellent opportunity to acquire a well located and well presented investment property which would provide a potential purchaser with a net initial yield of in the region of 10.9 per cent.

Offers in excess of €875,000 are being sought for the property.

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