Mixed-use investment for €650,000

Agent Xavier McCaffrey is quoting €650,000 for a multi-let office and retail building at 9B Lower Abbey Street, Dublin 1, which is producing a rent of €64,500 per year.

The ground floor retail space is let to Bagel |Master, trading as |O’Briens Sandwiches, at a rent of €43,500 per annum.

The lease with 7.5 years to run is guaranteed by Abrakebabra Ltd. The upper office floors are let on short-term leases to a call centre, which is paying €12,000 per annum and the Abbey School of Drama and Music which contributes €9,000.

Damien McCaffrey said the guide price represented a yield of 9.5 per cent.

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Meanwhile Xavier McCaffrey recently secured more than €500,000 for a derelict house on a site of 0.14 of an acre at 147 Howth Road, Dublin. The site has planning permission for two detached four-bedroom houses each with floor areas of 240sq m (2,582sq ft).

The same agents have secured more than €400,000 for an office/ retail investment at 55 Main Street, Bray, Co Wicklow, which was sold on behalf of KPMG. The initial yield will be 10.8 per cent, according to Adrian Gilmartin.

Jack Fagan

Jack Fagan

Jack Fagan is the former commercial-property editor of The Irish Times