€485,000 for shop unit
Published 23/06/2010 | 05:00
A local Co Clare investor paid €485,000 at a recent auction for an Ennis retail investment property.
Located at 1 and 2 Market St, the property generates €25,000 a year in rent. This suggests a gross yield of 5.15pc, but a rent review is due.
The agent, Paddy Darmody of Sherry FitzGerald McMahon, had guided €480,000 for the property which has a total area of 161 sqm, of which 71 sqm are at ground floor.
Two other Ennis retail investment properties failed to attract bids at the auction but offers were made afterwards and they are in negotiations.
One of these, 3 Market St, is guiding €400,000 and the other 10 Parnell St, is guiding €440,000.
The same agent is also quoting €775,000 for the Clare Business Centre at Francis St, Ennis, a 872 sqm two-storey office building beside Tesco and Aldi
Located on a 0.43-acre site, its accommodation includes 20 offices and a boardroom.