Mixed-use investment for €650,000

Agent Xavier McCaffrey is quoting €650,000 for a multi-let office and retail building at 9B Lower Abbey Street, Dublin 1, which is producing a rent of €64,500 per year.

The ground floor retail space is let to Bagel |Master, trading as |O’Briens Sandwiches, at a rent of €43,500 per annum.

The lease with 7.5 years to run is guaranteed by Abrakebabra Ltd. The upper office floors are let on short-term leases to a call centre, which is paying €12,000 per annum and the Abbey School of Drama and Music which contributes €9,000.

Damien McCaffrey said the guide price represented a yield of 9.5 per cent.

Meanwhile Xavier McCaffrey recently secured more than €500,000 for a derelict house on a site of 0.14 of an acre at 147 Howth Road, Dublin. The site has planning permission for two detached four-bedroom houses each with floor areas of 240sq m (2,582sq ft).

The same agents have secured more than €400,000 for an office/ retail investment at 55 Main Street, Bray, Co Wicklow, which was sold on behalf of KPMG. The initial yield will be 10.8 per cent, according to Adrian Gilmartin.