€1.3m for retail centre

CBRE is seeking in the region of €1.3 million for Merchamp Centre, a high-quality retail and office complex at the junction of Seafield Road and Vernon Avenue in Clontarf, Dublin 3.

The two-storey over basement premises consists of a mix of retail and offices and extends to 403sq m. The main tenant, Insomnia Coffee, is paying a rent of €42,000 on a 35-year lease from 2007. There are also three long-established tenants operating a newsagency, off-licence and an accountancy firm at a combined rent of €78,025, bringing the overall rent roll to €120,025

Colm Luddy of CBRE said they were anticipating strong interest from local investors wishing to take advantage of the recovering retail market