Bakery property in Rathmines sold for more than €600,000

A private investor has paid in excess of €600,00 for The Natural Bakery retail premises at 288 Lower Rathmines Road, Dublin 6, which is let on a ten-year lease from February, 2014. A headline rent of €45,000 kicks in from February, 2016. An additional income of €7,000 comes from the use of the buildings airspace for signage purposes. The overall yield for the new owner will be 7.90 per cent.

Christopher Belton of Lisney said there was competitive bidding among private investors for the building which was sought after because of its excellent pitch in Rathmines and the new retail tenancy.

David Carroll of Bannon advised the purchaser.