Retail/apartment building in Greystones for €750,000

Modern Wicklow property comprises ground-floor store and two apartments above

The modern building on Church Road, Greystones, Co Wicklow, is for sale at €750,000
The modern building on Church Road, Greystones, Co Wicklow, is for sale at €750,000

Cushman & Wakefield is seeking offers of more than €750,000 for a modern two-storey mixed-use building with retail on the ground floor and two apartments overhead on Church Road, Greystones, Co Wicklow.

The 120sq m (1,300sq ft) on the ground floor in Weston House is rented by the Kilkenny Group on a new 15-year lease at a rent of €45,000 per annum, moving up to €48,000 after four years. The tenant has a break option after year five.

Two apartments, one a one-bed, the other a two-bed, on the first floor bring the rent roll up to €65,400 per annum.

That figure is due to rise to €68,400 in year four. The initial yield of 8.35 per cent is due to rise to 8.73 per in year four.

Jack Fagan

Jack Fagan

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