An office and retail building in Tuansgate goes on sale today with a guide price of up to €5.8 million.
Auctioneers CBRE are handling the sale of 1 and 6 Tuansgate, which they say is producing “strong rents,” and on offer is a modern office building and a retail unit with a combined floor space of almost 3,680sq m (39,610sq ft).
The office is over 3,373sq m (36,314sq ft), and is fully occupied by the Dublin and Dún Laoghaire Education and Training Board and Tetra Pak.
Over 80 per cent is occupied by DDLETB under three leases, with the 306sq m (3,296sq ft) retail unit currently being rented by Royal Foods, trading as Spice Bazaar, on a nine years and nine months lease from 2014.
The overall selling price of the building works out to €146/sq ft. The investment will show a net initial yield of 8.59 per cent.
Also included in the sale is 105 parking spaces in a neighbouring multi-storey car park.
The overall space for sale brings in an annual rental income of €520,672.