Commercial property on Main Street goes on market for €4.8m
A COMMERCIAL property on Main Street in Tallaght has gone on the market with a guide price of €4.8m.
The premises, which is adjacent to the headquarters of Lidl Ireland, consists of both office and warehouse accommodation.
The building is recently refurbished and fully let, producing a rental income of €453,600 per year with an average unexpired lease term of more than eight years.
The property has a gross internal area of 2,555.36 sq. m, which houses tenants including Bryan S Ryan, the Health Service Executive and the Dublin and Dun Laoghaire ETB.
Bryan S Ryan pays €272,600 rent for 1,373.90 sq. m, the HSE pays €84,000 rent for 404.82 sq. m and the Dublin and Dun Laoghaire ETB pays €97,000 rent for 776.64 sq. m.
Bryan S Ryan has a lease set until 2026, the HSE has a lease set until 2030, and the Dublin and Dun Laoghaire ETB has a new ten-year lease.
Bryan S Ryan occupies the front of the property in two-storey office and warehouse accommodation, the HSE occupies a two-storey office premises while the ETB occupies a single-story building which is in use as an adult education centre.
Part of the property underwent redevelopment in 2000, which included refurbishment works on a new façade and the erection of a new warehouse and office building.