€590k for multi-let mixed use development in village
By Aideen O'Flaherty
A MULTI-LET mixed use development on Clondalkin’s Main Street will be going up for auction next month with a guide price of €590,000.
The investment opportunity consists of two retail units, three office units and one two-bedroom apartment, all of which are currently being leased.
Coby Jewellers occupy one of the retail units with a rent of €13,200 per annum on an informal lease, while Clondalkin Travel is housed in a 44.13 sq m unit for €15,000 per annum on a three-year lease that began in April 2016.
The three office units are leased to Butterfly Studio with a rent of €12,720 per annum, Zig Zag Clothing Alterations who pay rent of €7,800 a year and Round Tower Psychotherapy who pay €5,400 per annum to rent the unit.
The apartment unit, which is located on the first floor of the development, is being leased to an individual for €13,800 per annum.
The development extends to approximately 195.75 sq. m and has a total current rent reserved of €67,920 per annum.
The surrounding occupiers of the double-fronted property, which is located on Main Street and Laurel Park, include Paddy Power, Four Star Pizza and Ulster Bank.
Auctioneer Bid X1 has described the property as being located in a “high footfall” area, which benefits from transport connections including the M50, the Luas Red Line and a number of Dublin Bus routes.
The development will be going under the hammer at Bid X1’s commercial online auction on June 1.
TAGS Business
