Retail lot sells in Ranelagh

A private investor has paid in excess of the guide price of €925,000 for a retail investment in the centre of Ranelagh, Dublin 6.

Number 121/123 Ranelagh is located close to the junction of Sandyford Road and Cullenswood Park and is producing rents of €93,000 a year. The ground floor, divided into three units, is let to Sherry FitzGerald on a 25-year lease from 1998, a second shop is let to Mayjo trading as Giles on a similar lease from 1996 while the third unit was sublet by Mayjo to The Village Butcher on a short lease from 2012. The upper floor and rear car park were previously sold to a third party by way of a 999-year lease.

Lisa McInerney of GVA Donal O'Buachalla said the sale generated strong interest among domestic investors because of the lot size and the location. Christopher Belton of Lisney advised the purchaser.