Net initial yield of 7.65pc in Wexford
No 24 South Main Street in Wexford town will be auctioned by agents Kehoe & Associates at their premises on Commercial Quay at 3pm on May 23 next (unless previously sold).
The property is let under the terms of a 20-year lease by Orange Star Limited, T/A EIR, from August 2010, and is yielding €36,000 per annum, currently abated from €41,500. At €36,000, this equates to a net initial yield of 7.65pc, assuming standard purchase costs of 4.46pc. The retail unit extends to 88 sq m (947 sq ft) with a further 25 sq m (270 sq ft) at mezzanine level. There is staff accommodation on the first and second floors. Adjoining occupiers include Penneys, Heatons, Costa coffee, Mountain Warehouse, Trespass and JD Sports.