A prominent corner retail investment located in the centre of Monkstown village is on the market through Lisney.
The high profile modern building marks the start of the fashionable Monkstown Crescent. The property includes two large ground floor retail units and a vacant fully fitted first floor 40 seat restaurant.
Monkstown is an affluent coastal suburb situated between Blackrock and Dun Laoghaire.
The property is For Sale by Private Treaty with a guide price of €2,100,000. At the asking price, the buyer will receive an attractive net initial yield 6.77%.
The property is let to two established retail tenants; Spar & Waterford Stanley. It is currently producing a rental income of €148,700 per annum and has a weighted average unexpired lease term (WAULT) of over 12 years.
Also included in the sale is a vacant fully fitted first floor restaurant which offers investors an asset management opportunity to increase their overall rental income from the property.
Monkstown is recognised for its unique shops and restaurants, which brings strong footfall to the area. Notable occupiers in the area include Avoca, FX Buckley, Salt Café and Seapoint restaurant.
The property is likely to attract interest from both domestic and foreign investors who are seeking to gain exposure to the recovery in the retail sector which is growing on the back of the improving wider economy.