Sale and leaseback opportunity of €1.75m at Square restaurant

SELLING AGENTS Colliers are bringing a sale and leaseback opportunity in The Square Shopping Centre to the market with a guide price of €1.75m, which provides an investor with an immediate return of 6.5 per cent.

The property is to be sold with the benefit of Graham O’Sullivan Restaurants Limited as tenant who is committing to the property by way of a new, long-term lease.

An incoming investor can expect an initial return of 6.5 per cent on acquisition, rising to 7.15 per cent following the fixed rental uplift in year 5.

Graham O’Sullivan Restaurants is a daytime family restaurant offering breakfast, lunch, sandwiches and confectionery. It has been in business nearly 60 years.

The restaurant is laid out around a self-service hot food and deli counter with an extensive seating area, to include attractive banquette seating that can accom-modate up to 60 customers during peak hours.

General specification of the kitchen includes stainless steel worktops, food preparation areas and cold storage room with separate office, wc and storage facilities.

A resurgence in activity in the retail sector has driven increased investor interest with retail emerging as the best performing investment asset class in Q2 2023.

More than €129 million was invested during the quarter (39 per cent of turnover), a notable improvement on average investment in retail of just 8 per cent over the last 5 years and a real reflection of stronger investor sentiment towards this sector.

Stephen Conway of Colliers who is handling the sale commented “this is a fantastic opportunity to acquire a high yielding retail asset, on attractive lease terms – offering an investor a long-term, secure income stream with the benefit of a fixed rental up-lift, in one of Dublin’s busiest shopping centres”

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