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Stylish Drogheda property offers 7.2pc net initial yield to investors

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The Bank of Ireland building on Saint Laurence Street, Drogheda

The Bank of Ireland building on Saint Laurence Street, Drogheda

The Bank of Ireland building on Saint Laurence Street, Drogheda

A retail investment in Drogheda, Co Louth, has been brought to the market with a €3,900,000 guide price.

Located at number 14, Saint Laurence Street, the 6,943sqft building is fully let to Bank of Ireland on a 25-year FRI lease with no break option from December 2006.

The guide price reflects a net initial yield of 7.22pc and a capital value per square foot of €562. Selling agent Colm Luddy of CBRE points out that it also benefits from upward-only rent reviews.

Number 14 is an impressive two-storey building with a feature cut-stone facade. It has 14 metres of frontage onto one of Drogheda’s busiest shopping streets which includes Saint Laurence Street Shopping Centre with local, national, and international retailers.

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