Bank of Ireland branch in Dublin 3 for €2.1m

Agents Knight Frank is introducing some variety to the Dublin investment market this week by offering for sale the Bank of Ireland branch at Marino Mart in Fairview, Dublin 3. The investment is priced at €2.1 million and will show an initial yield in the order of 9 per cent.

The three-storey end-of-terrace building is located in a long-established commercial parade fronting on to one of the busiest arterial routes into the city centre. The principal uses in the area include retail, bars restaurants with the adjoining occupiers are Spar, Costello pharmacy and Early & Baldwin solicitors.

The bank extends to 570sq m (6,134sq ft) and is let on 25-year lease from December 2006, at a current rent of €195,648. The lease includes upwards-only rent reviews and has a tenant break option at the end of the 15th year.

The ground floor extends to 229sq m (2,469sq ft) and includes a banking hall with ancillary open plan and partitioned administration offices which were recently upgraded. Staff facilities and additional business consultancy offices and meeting rooms are located on the upper floors. There is also an eight-passenger lift servicing all floors.

The bank branch has a rear enclosed yard with two concertina-style vehicular gates accessed via a side and rear landway. There is also pay and display street parking to the front of the building.