Dublin 14 retail centre on market for €4.5m

The Rosemount neighbourhood centre in Rathfarnham, Dublin 14, has come on the market through agent Bannon at over €4.5 million.

At that price and after standard acquisition costs of 4.46 per cent are deducted, the retail and office investment would return an initial yield in excess of 8 per cent.

Rosemount is currently producing a rent roll of €362,483 while the centre has a weighted average unexpired lease term of 10.7 years.

The centre comprises eight retail units at ground-floor level and a further four commercial and offices units on the first floor.

It extends to 2,215.4sq m (23,846sq ft) with 112 surface car-parking spaces that are in charge to South Dublin County Council.

Rosemount is fully occupied and is anchored by Supervalu under a new long-term lease from 2014.

Tenants within the parade include a pharmacy, cafe, takeaway, butchers and a fishmonger among other complimentary uses.

Rathfarnham in Dublin 14 is an affluent suburb 7.2km from the city centre. The immediate area is predominantly residential in nature.

Daniel McLaughlin of Bannon says Rosemount “offers excellent income return prospects and provides investors with a dry asset”.