Tuesday 12 December 2017

Two-storey retail site on sale for €600,000

Peter Flanagan Commercial Property Editor

MASON Owen and Lyons are selling a retail site in Dalkey, Co Dublin by private treaty.

The property at 17/18 Castle Street, which comprises approximately 201.63sqm, is a two- storey end-of-terrace freehold property with the ground floor let to two well known retailers which are not affected by the sale.

The current rental income is €70,185 per annum with two of the offices on the first floor currently vacant.

The tenants hold long leases, 15 and 20 years respectively. The first floor has a number of cellular offices which are occupied by licensees, all of whom have been in occupation for more than five years and have rights of renewal. Mason Owen & Lyons are quoting excess €600,000 for the property.

Meanwhile, the same agents have been instructed to reduce the price on a commercial site at 45/46 Fairview Avenue Lower in Dublin 3 to €300,000.

The site comprises 0.29 acres and is zoned Z4 "to provide for and improve mixed service facilities".

A feasibility study which shows three potential development options for the site has been prepared.

Irish Independent

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