Bray retail investment sells for over €740,000

Colliers International has sold a retail investment at 12 Main Street, Bray, Co Wicklow, for €742,500, a figure that will show a net initial yield of 7.2 per cent. The guide price was €700,000.

Stephen Conway, who handled the sale for Colliers, said the sale had attracted considerable interest among private investors because of the lease which has 10 years to run and the quality of the tenant, Tiger.

The building has a floor area of 226sq m (2,432sq ft) on two levels and is rented at €56,000 per annum.