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Tesco Express College Green Goes On Sale For €4.1m

Published on Mar 21 2018 11:39 AM in Retail tagged: Featured Post / Tesco Express / Melford Property Consultants

Tesco Express College Green Goes On Sale For €4.1m

The Tesco Express outlet on College Green in Dublin's city centre has gone on sale for a reported €4.1 million.

The city centre store shares the six-storey over-basement block with IT Solutions, and reportedly pays a rent of €62,000 per annum for 386sq m (4,156sq ft) at ground and basement levels and has break options in 2023 and 2028, reports the Irish Times..

Meanwhile, IT Solutions occupies 551sq m (5,941sq ft) on the five upper floors at an annual rent of €160,000. Both the tenant and landlord have break options in 2022.

The Tesco building has an overall floor area of 938sq m (10,000sq ft) and brings in an annual rent roll of €222,000, offering the new owner a net initial yield of 5%, which a €4.1 million valuation, the capital value will work out at an estimated €406 per sq ft.

Close by, Melford Property Consultants is reportedly seeking in excess of €950,000 for Knobs & Knockers Nassau and South Frederick streets.

The four-storey over-basement has an overall floor area of 156.58sq m (1,686sq ft).

© 2018 - Checkout Magazine by Donna Ahern

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