€925k price tag on Ranelagh property
A RETAIL investment property in Ranelagh, Dublin 6, is being offered for sale with a €925,000 price tag.
The freehold property at 121-123 Ranelagh, is divided into three ground-floor, self-contained retail units, which are generating a combined passing rent of €93,000 a year.
Unit 1 is let to Sherry FitzGerald Ltd on a 25-year lease from October 1998. Unit 2/3 is let to Mayjo Ltd, trading as Giles on a 25-year lease from February 1996. Mayjo Ltd has sublet unit 3 to The Village Butcher on a four years and nine months lease from November 2012.
Selling agent Lisa McInerney of GVA Donal O Buachalla says that the quoting price of €925,000 represents a net initial 9.62pc yield on the current passing rent.
The upper floor and rear car park was previously sold to a third party by way of a 999-year lease.
Located on the west side of Ranelagh close to the junction of Sandford Road and Cullenswood Park, as well as Beechwood Luas station and Tesco Express, it has a high level of passing trade fronting Ranelagh's busy main thoroughfare.