Donnybrook Mall shops sell for £6.5 million

A private investor has paid just over the asking price of £6

A private investor has paid just over the asking price of £6.5 million for 10 retail investments at Donnybrook Mall in Dublin 4. The initial yield will be 4.25 per cent but seven of the units are to have rent reviews over the next 12 months. Hamilton Osborne King handled the sale for Allied Irish Investment Managers. The shops are currently producing a rent roll of £284,250. The largest unit is the Centra supermarket which is paying £57,000 per annum. Agent Brian Cooney said the purchaser may consider redeveloping part of the complex to provide an upper floor.