Investor pays £340,000 for two Mullingar shops

A private investor has paid £340,000 for two shop units at Mullingar Shopping Centre in a deal which will produce a nett yield…

A private investor has paid £340,000 for two shop units at Mullingar Shopping Centre in a deal which will produce a nett yield of 8 per cent. The tenants are Dusty Millar Bakery and Power Supermarkets, which is operating an off-licence business. The combined rent is £28,750. Mason Owen Lyons, which handled the sale, is seeking in excess of £475,000 for a warehouse and showrooms on a site of 35,000 square feet at Spa Road, Inchicore, Dublin 8. It is well located - the N4, N7 and Heuston Station are a short distance away. The 10,000-square-foot warehouse has an additional 550 square feet of office space. There is also an adjacent two-storey showrooms with 1,300 square feet. The current occupier, IBER Materials, is relocating to larger premises.