Fairview Strand retail investment sells for more than €1m

A private investor has paid in excess of €1 million for the Tesco Express retail investment on Fairview Strand in Dublin 3 which will show a return of 7.2 per cent.

The store is rented for a term of 25 years from 2010 at a rent of €75,000 per annum. The lease provides for upwards only rent reviews every fifth year and allows for a tenant break option in 2020 and 2025. The store extends to 348sq m (3,753 sq ft) and is located along a particularly busy stretch of Fairview Strand.

Bryan Garry of QRE handled the sale.