Crumlin investment promises net yield of 7 per cent

Agents Davin is quoting a guideline price of £1

Agents Davin is quoting a guideline price of £1.15 million - equating to a net yield of 7 per cent - for an office investment at Clonard Road, Crumlin, Dublin 12. The 9,800 sq ft building is let to the Office of Public Works on a 20-year lease from 1995 at a current rent of £88,000 or £8 per sq ft. The lease contains break clauses in the years 2005 and 2010. Davin says that as the site covers 0.45 of an acre, the new owner could be left with a valuable apartment redevelopment site if the OPW exercised its break option.