Tenanted Waterford shops could yield over 11pcTwo retail investment properties in Waterford City Centre are for sale and, if bought together, could fetch €285,000 and yield over 11pc.
Located at 1 & 2 Stephen's Court, Stephen Street, Waterford, they are part of a three storey mixed development built in 1984 and are located just 150 metres off Barronstrand Street, with strong pedestrian flow and good profile. Both tenants have been prompt rent payers for over 20 years.
Unit 1 extends to 40.68sqm and is let to a hair-dresser under a 35-year lease which has almost eight years to run. Its current rent is €12,000 a year and is asking €110,000.
Unit 2 extends to 59.54sqm and is let to a jeweller under a 28-year lease which expires in October 2016 at a current rent of €22,300 p.a. It is linked to the CPI and with 3 year rent reviews. The agents Kehoe & Associates are asking €175,000 for this unit.