New owner of Maurice Mahon House can expect annual income of least €191,330
A high-profile commercial property investment in the heart of Malahide village in north Dublin is expected to attract considerable interest when it goes for sale from today.
Michele Jackson of agents TWM is inviting offers over €1.95 million for Maurice Mahon House, a two-storey commercial building laid out in five separate units extending to 484 sq. m (5,214 sq. ft).
Tenants on the ground floor include McGoverns Restaurant, Axa Insurance and Ellen B Boutique. The upper floor is laid out as solicitors offices and a leisure facility. The investment produces an annual income of €191,330, which can be increased by letting the vacant unit.
Even with the current line-up of tenants, the successful investor will have an attractive net initial yield of 9.39 per cent before a tenant is found for the vacant unit.
TWM is handling the sale on behalf of receiver Ken Tyrrell of PwC.