Terenure retail and office investment with development potential for €3.4m

Lisney Commercial Real Estate is guiding €3.4 million for a commercial investment portfolio in Terenure, Dublin 6W. The offering briefly consists of Nos 8-12, Terenure Place, No 2 Templeogue Road and unit 11A on Rathfarnham Road, and is generating overall rental income of €245,067 per annum from a mix of tenants. This income could increase by €35,000 a year subject to the leasing of a vacant restaurant unit.

The tenant line-up currently features a mix of retail businesses, offices and restaurants, a gym and warehouse accommodation. The occupiers include Think Bike, LaHoya Greens, Two Fifty Square, and Meghna Tandori.

The properties collectively extend to 1,324sq m (14,245sq ft) on a site of 0.2158 hectares (0.533 acres) facing on to the junction where Terenure Place, Templeogue Road and Terenure Road West merge in the centre of the village.

The entire plot is zoned “Z4 key urban village” in Dublin City Council’s development plan and is suitable for a variety of uses, subject to planning permission, according to the selling agent.

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Commenting on the sale, Christopher Belton of Lisney says: “This a rare substantial holding in a thriving south Dublin location and is likely to attract a lot of interest.”