Two stores selling for combined guide price of €3.05m

A retail building at 17 North Earl Street in Dublin city centre and another store at The Square shopping centre in Tallaght will be of interest to an ever increasing number of private investors who have returned to the market following a pick up in business and forecasts about rental growth in the months ahead.

Agents HWBC are handling the sale of the investments which have a combined guide price of €3.05 million.

The agents are quoting €1.65 million for the four-storey over-basement mid-terrace building at North Earl Street which is let to Euro General Retail Ltd, trading as Euro 2.

It is paying a rent of €130,000 per annum on a lease that provides for upwards-only rent reviews.

The yield will be 7.5 per cent after normal purchasing costs are taken into the account.

The building has a floor area of 257sq m (2,777sq ft) and is located about 100m from O’Connell Street.

The Square shop, for sale at €1.4 million, is let to GameStop at a rent of €100,000 per annum which will give a net return of 6.83 per cent.

The 25-year lease from 2009 provides for upwards-only reviews, and has break clauses in 2019 and 2024.

The unit extends to 104sq m (1,130sq ft) and is on level two adjacent to New Look, Boots and River Island. The Square has 130 shops including anchors Dunnes Stores, Tesco and Debenhams.