TWO MIXED-USE investment buildings in the centre of Swords, Co Dublin, are to be offered for sale at €2.3 million through agents GVA Donal Ó Buachalla.

There is a price tag of €1.65 million on the main property at 17 Main Street, which extends to 974sq m (10,490sq ft) over three levels.

The main tenants are Masterson’s steakhouse and wine bar which occupies much of the ground and first floors. There is an orthodontist practice on the second floor along with a range of office suites, one of which has just been let to a strong covenant on a four years and nine months lease.

The building is currently producing a rent of €156,138 per annum and when a tenant is found for one vacant office of 152sq m (1,635sq ft) the rent will rise to €183,720 per annum.

At the current asking price of €1.65 million, an investor will get a net initial return of 9 per cent.

Ó Buachalla are also seeking €650,000 for a modern three-storey mixed-use building with a floor area of 439sq m (4,731sq ft) at Bridge Street. The building is producing a rent roll of €77,829 per annum.

Part of the second floor is currently vacant and when it is let it should bring in an extra €6,000 per annum. Current tenants include the Courts Services, McCarthy accountants, a beautician and two residential occupiers in separate apartments. The present rent roll will give investors a yield of 11.41 per cent.

Lisa McInerney of Ó Buachalla, who is handling the sales, describes Swords as “popular and lively town” within easy reach of a number of major employers, including Dublin airport.

The increased volume of business in the town had encouraged Masterson’s to lease additional space on the second floor of the Main Street premises, she said.