Investment Opportunity in Tallaght Brought to the Market
Dublin, 6th Nov 2015 –CBRE have launched Units 3&4 Tallaght Retail Centre to the market. The property comprises two interconnecting retail units, currently trading as a Centra convenience store. CBRE are quoting €400,000 for the property, equating to a net initial yield of 9.57%.
The retail units form part of the Tallaght Retail Centre, a mixed use retail and residential scheme, situated off the Belgard Road in Tallaght, opposite The Square Shopping Centre. Units 3 and 4 occupy a prominent position in the scheme, fronting onto Belgard Road. Further occupiers in Tallaght Retail Centre include Paddy Power, DID Electrical and Smyths Toys. Tallaght Retail Centre is also situated within 350 metres of The Institute of Technology Tallaght, which has approximately 3,700 students enrolled.
The property comprises a single storey retail unit of approximately 320 sq. m. (3,445 sq. ft.).The retail unit is fitted out to a modern specification and comprises a main retail area with an off- licence, deli counter and customer seating area. There is also ancillary space to the rear to include storage space, office space and WC facilities.
Units 3 and 4 are let to M&G Phoenix Retail Ltd. on a 20 year lease from March 2012 at a contracted rent of €40,000 per annum. There is a tenant break option at years 6 and 11 of the term.
For further information contact agents CBRE.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
In Ireland, with offices in Dublin and Belfast, CBRE is the country’s largest commercial real estate services company, now employing over 165 employees and offering a full range of property services including property sales and acquisitions, leasing and management, investment, corporate services, debt advisory, project management, consultancy, business rates and compulsory purchase, valuations and research. Please visit our website at www.cbre.ie or www.cbre.ie/ni.