High yielding units up for sale in The Square

The two external retail units, which are currently rented by Mao and Dominos in The Square, are to go on the market for sale for €1,350,000.

The agency responsible for the sale, Bannon, say this is a highly rated investment that will show an immediate return of 7.22 per cent and that after a rent review due next year on the Mao outlet the yield on the investment will rise to 9 per cent.

The two units are located next to the level 1 entrance and benefit from very considerable pedestrian traffic between The Square and Tallaght village.

Pizza giant Dominos occupies unit 135 which extends to 81.7sq m (879q ft) on a 25-year lease from 1999 at a rent of €74,880 with eight years remaining on the upwards-only lease.

The outlet is believed to be one of the busiest in the country operated by Dominos.

Unit 137/a, extending to 136sq m (1,464sq ft), is occupied by Mao at Home on a new 15-year lease from 2012 at a low passing rent set in 2012 of €25,000. The agent expects this rent to double when it is reviewed next year.

Both units have shares in the centre management company.