DEAL’Z on Main Street Gorey makes €1.15M

A high street retail investment property on Main Street, Gorey occupied by UK retailer Poundland t/a Deal’z, has been successfully sold by agents Bannon for €1.15m.

Poundland occupy the unit under a 15 year lease and are contracted to pay €115,000 per annum which will net the purchaser an income yield of approximately 9.57% after standard acquisition costs.

David Carroll, who handled the sale on behalf of CERTUS, said ‘there was a considerable level of interest in the property given the strength of the Poundland brand who reported a €780m turnover for the 12 months to April 2012, an increase of 21% from 12 months previous’.

Bannon are due to launch a selection of investment product in the coming months ranging from city centre investments to provincial mixed use schemes.