Two-storey building produces rent roll of nearly €32,000 from retail and office units
The two-storey over-basement building at 13/15 Rockhill, Blackrock, extends to 204sq m (2,192sq ft) and produces a rental income of €31,784 from a retail unit at ground and basement levels and a separate office suite overhead. A two-bedroom apartment on the top floor is presently vacant.
Khan Fashion Boutique is paying a rent of €24,800 on a 15-year lease from September 2017, with a break option in year five.
The first floor office element is occupied by Smyly Trust at a rent of €6,984. The lease has expired and the tenant is currently overholding. The rent roll can be significantly increased once a tenant is found for the apartment.
Ollie Lyons of TWM said he expects significant interest in the investment because of its location, attractive lot size and the potential for rental and capital appreciation.