Boulevard Centre makes €2.7m

A private investor has bought the Boulevard Centre in Bray, Co Wicklow, for €2.7 million in a deal that will give the new owner a net yield of 8.6 per cent. Michele McGarry of Colliers International handled the sale for receivers KPMG. The centre is currently producing a rent of €242,850, of which anchor tenant Tesco pays €120,000. About 90 per cent of the rental income comes from Tesco or Government agencies. Tesco's 25-year lease has another 11 years to run. The new owner could increase the rental yield by letting a vacant unit of 1,207sq m (13,000sq ft) at first-floor level.