€950,000 for Fairview’s Tesco Express

Property advisers QRE €950,000 for a Tesco Express trading at Fairview Strand in Fairview, Dublin 3.

The store is rented for a term of 25 years from 2010 at an annual rent of €75,000 per annum.

The lease provides for upwards-only rent reviews every fifth year and allows for a tenant only break option in 2020 and 2025.

Bryan Garry of QRE calculates that the investment will show a net initial yield of 7.5 per cent for the purchaser.

The store extends to 348sq m (3,753sq ft) and is located along a busy stretch of Fairview Strand.