Greenfield Shopping Centre for sale by Private Treaty for €1.25 Million,
4th July 2018
Greenfield Shopping Centre for sale by Private Treaty for €1.25 Million
Investment yield of 11.34% set to rise to 12.38% within three years.
Joint agents Lisney & Hibernian Auctioneers are seeking offers in excess of €1.25 million for a well let high yielding retail investment property in Maynooth Co. Kildare.
Greenfield Shopping Centre is situated just 0.5km south of Maynooth railway station on the east side of Straffan Road which connects Maynooth with the M4 motorway. The development comprises a single storey neighbourhood shopping centre with ample car parking all on a site area of approximately 1 acre. Tenants within the centre include Centra, St Patrick’s Pharmacy, Kin Kaho Thai Restaurant, Mulcahy Craft Butcher and St. Vincent De Paul.
Lisney an Hibernian Auctioneers are marketing the freehold interest in the entire development for sale, out of which a small number of long leasehold interests have been carved out and sold to two owner occupiers.
The property is fully let with nine retail units extending to approximately 698.63 sqm (7,520 sqft) GIA leased on traditional occupational leases. The combined rental income from these units along with the long leasehold interests is €153,790 per annum.
This income is considered secure with a current weighted average unexpired lease term (WAULT) of just less than 8 years. Investors will benefit from an increased rent roll in the short term with income set to increase to €167,790 in three years’ time due to contracted stepped rental increases.
Christopher Belton of Lisney and Gerard Hyland of Hibernian Auctioneers are handling the sale and anticipate strong interest from private investors seeking attractive yields in the current marketplace.