High yielding units up for sale in The Square

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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.