EP Mooney Centre on Long Mile Road on market at €12.9 million

THE long-established EP Mooney Centre on the Long Mile Road has been placed on the market through agent Bannon, with a price tag of €12.9 million.

The property comprises a fully let retail warehouse and motor showroom and offers an industrial trade investment for interested investors.

With a total area of 8,516sqm, the property includes a car showroom, four retail-warehouse units and four industrial-trade units over five individual blocks.

Located just 6km from the City Centre, the Centre has attracted a strong tenant base, with Mooney’s Hyundai, Kube Interiors and Giant Bicycles currently trading out of the site, generating a total passing rent of about €1.028 million a year.

The site has been proven to provide investors with a secure, long-term income, with a weighted average lease term-certain of more than 12 years.

The new owner would be in line for a net initial yield of 7.25 per cent, should the site be sold at the guide price.