Spar in Monkstown with restaurant overhead sells for €2.3m

Lisney has secured in excess of €2.3 million – more than €200,000 above the guide price – for a high-profile corner retail investment with overhead restaurant in the southside Dublin village of Monkstown.

1 Monkstown Crescent marks the start of a fashionable parade of shops, restaurants and cafes.

It includes two large ground-floor retail units and a vacant, fully fitted 40-seat restaurant.

The building is let to two retail tenants, Spar and Waterford Stanley, and produces an annual rent of €148,700. The overall rent is expected to rise substantially once the restaurant is let.

There is a weighted average unexpired lease term of more than 12 years.

Notable restaurants nearby include FX Buckley, Salt Café and Seapoint.