Portfolio of Capel Street shops and apartments for €2.95m

Two shops and 11 overhead apartments at 37 and 38 Capel Street, Dublin 1, are expected to attract competitive bidding when they go on sale on the instructions of a receiver.

Turley Property Advisers is guiding €2.95 million for the portfolio, which produces a rental income of €250,000 with potential to increase it to more than €300,000.

The mixed-use development, which was completed in 2006, is located midway along Capel Street, two doors from the Louis Copeland shop.

One of the two ground floor and basement shops is vacant and the other is let to Moldovan Supermarket at €50,000 per annum. Moldovan originally traded on a lease of four years and nine months, but is now overholding. The vacant unit is in shell condition.