Retail centre with three tenants in Sandyford for €2.75m

BNP Paribas Real Estate is guiding €2.75 million for a retail investment anchored by a Londis convenience store at a busy intersection in Sandyford, Co Dublin.

The mainly single-storey building extending to 362sq m (3,895sq ft) is let under three separate tenancies to Londis, Café to Go coffee shop and a Bank of Ireland ATM. The rent roll of €140,499 is due to rise to €193,491 in January, 2017. The Londis outlet accounts for €123,165 of the contracted income.

The property is at the intersection of Carmen Hall and Arkle Road and was developed in 2002 by Green Property as part of the overall Atrium office development where Microsoft is the largest tenant.

Directly opposite the site, the UK developer U+I recently secured planning permission to demolish the Avid Technologies building and replace it with 147 apartments, a crèche, café and gym in new five to eight storey block.