€925,000 for retail investment in Ranelagh village

Agent GVA Donal O Buachalla is seeking €925,000 for a retail investment in the centre of Ranelagh, Dublin 6, which will provide an initial yield of 9.62 per cent.

Number 121-123 Ranelagh is located close to the junction of Sandford Road and Cullenswood Park, and is currently producing rents of €93,000 per annum.

The ground floor, divided into three units, is let to Sherry FitzGerald on a 25-year lease from 1998; a second shop let to Mayjo Ltd trades as Giles on a similar lease from 1996, while the third unit is sublet by Mayjo to The Village Butcher on a four-years and nine months lease from 2012.

The upper floor and the rear car park were previously sold to a third party by way of a 999-year lease.

Lisa McInerney of O Buachalla said that based on recent market activity
and the volume of equity chasing well-let investment properties around
the €1 million mark, she was confident that the Rathgar property would generate g very considerable interest.