The combination of a 6.2 per cent net initial yield, strong tenant covenant and location should help to drive the sale for €350,000 of an investment in Booterstown, Co Dublin. Located at the junction with Booterstown Avenue, 112 Rock Road comes to the market fully let to leading residential estate agent DNG, on a 10-year term from May 1st, 2019, with an annual rent roll of €24,000. The property will be sold at auction by agent Knight Frank (unless previously sold).

Extending to 881sq ft, 112 Rock Road briefly comprises an own-door 2.5-storey building with office/retail space at ground and first-floor level. The ground floor features a large reception and property gallery area, with ancillary office and a kitchenette to the rear. The first floor comprises two meeting rooms with a WC just above at the second-floor return. The property includes a mixture of suspended ceilings with recessed lighting and slab ceilings with fluorescent-strip boxed lighting, electric storage heating, solid carpeted floors and a mixture of wall sockets and perimeter trunking.

Blackrock village is just a five-minute drive/15-minute walk from the property and offers a broad range of amenities including bars, restaurants and cafes. The Blackrock and Frascati shopping centres are home to major occupiers such as Marks & Spencer, Boots, AIB and SuperValu. The area is a well-established and well-connected commercial location, and serves as a base for numerous major corporates including Zurich, Allianz, Novartis and Permanent TSB.

Ross Fogarty, who is handling the sale on behalf of Knight Frank, says: “This lot’s size will be very well suited to private pension buyers seeking well-located, well-let properties, at attractive comparative returns to alternative asset classes.”