Stradbally Shopping Centre for €3m

Complex includes nine retail units and 10 apartments producing rent roll of €284,579

Stradbally Shopping Centre in Co Laois, with nine retail units and 10 apartments, for sale for €3m
Stradbally Shopping Centre in Co Laois, with nine retail units and 10 apartments, for sale for €3m

Lisney is seeking €3 million for Stradbally Shopping Centre in Co Laois, which will show a net return of 9.08 per cent.

The nine-year-old complex includes nine retail units and 10 apartments which are producing a rental income of €284,579.

The building also includes over 80 communal car-parking spaces. Five of the other apartments were previously sold off individually. The remaining buildings extend to 2,972sq m (31,991sq ft).

The shopping centre is anchored by DC Supermarkets, trading as Supervalu. The other traders include Chemco Pharmacy, An Post, Stradbally Fayre and a food takeaway called The Arch.

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The combined income from the commercial lettings is €240,911.

One of the 10 apartments, extending to 139sq m (1,500sq ft) is in shell and core condition.

The residential income stands at €43,886, equating to an average of €5,460 per apartment.

Christopher Belton of Lisney said the investment was likely to appeal to private investors seeking a high yielding but stable level of return. Investors would take comfort from the fact that most of the rents had been adjusted in recent years to market levels.

Jack Fagan

Jack Fagan

Jack Fagan is the former commercial-property editor of The Irish Times