Enfield investments on the market at €1.675m

A modern supermarket investment and two high profile blocks which are multi-let to a bank and other traders at Main Street, Enfield, Co Meath, go for sale today through QRE Real Estate Advisers.

The agency is guiding €675,000 for the first lot, a 379sq m (4,079sq ft) supermarket let to Tesco for a term of 25 years from 2012 with a break option in 2022. The UK multiple is paying a rent of €55,000 per annum which will give the purchaser a net initial yield of 7.8 per cent.

QRE is also quoting €1 million for Blocks 1 and 2 at Market Yard which date from 2006 and extend to 917sq m (9,874sq ft).

The tenants include Bank of Ireland, J &S Pringle Opticians, St Vincent de Paul, Enfield Fitness & Martial Arts Academy and Rock City Diner who pay an overall rent of €99,000 per annum.

The bank contributes €38,800 for 248sq m (2,670sq ft) in part of the ground and first floors of Block 1 under a 25-year lease from 2009 with the next break option in 2019. A purchaser can bank on a net initial yield of 9.5 per cent.

QRE is prepared to sell the two investments either separately or as one lot.