Sandyford Hall centre for €3.7m
The Centra-anchored neighbourhood centre at Sandyford Hall, Dublin 18, is quoting €3.7m through agent Bannon. This price level would reflect an initial yield of 8.1%.
Fully let, Sandyford Hall is producing a rent roll of €321,000 with a weighted average unexpired lease term of 10 years. Many of the tenants at the centre have been in occupation for more than a decade. Centra, whose store has recently been upgraded, occupies a 325 sq.m (3,500 sq.ft) unit with more than 18 years left on its lease.
Other occupiers include Costa Coffee, McCabes Pharmacy and Romayos Diner. There is also a crèche, dry cleaners and dentist.
Located in an affluent and mature south Dublin residential suburb, Sandyford Hall is spread over two levels with six retail units on the ground floor and a further five commercial and offices units on the first floor. According to the agent, 82% of the rent roll comes from the ground floor retail units.
The entire neighbourhood centre extends to 1,423 sq.m (15,313 sq.ft) and benefits from more than 50 surface car-parking spaces.
Article in the Irish Times
