€1.1m Kilkenny investment offers 12.8pc net initial yield
Joint Agents Savills and Sherry FitzGerald John Rohan are guiding a price of €1.1m for a fully-let retail premises at the heart of Kilkenny City.
No 101 High Street comprises a three-storey, over-basement building which is currently occupied by Ladbrokes at ground floor level on a 21-year lease from 2004, paying a rent of €105,000 per annum.
The basement, first and second floors are occupied by Swans Chinese restaurant on a 21-year lease from 2005, paying a rent of €48,000. The entire property comprises 340 sq m.
Based on its overall current income, the property's €1.1m guide price reflects a net initial yield of 12.8pc.
No 101 High Street is well located at the junction of High Street and Rose Inn Street, and at the centre of Kilkenny City's retail and commercial district. The subject property has the benefit of a double frontage of 27 metres.
The joint agents say: "This sale represents an excellent opportunity for both local and private investors seeking a high yielding investment opportunity on a prime retail pitch in one of Ireland's premier tourist locations".