The subject properties are located on the Swords Road, Santry approximately 1.8km north of DCU and directly adjacent to The Swiss Cottage Public House. The properties comprise two adjoining two storey commercial properties known as Swiss Cottage and Euro House.
The Swiss Cottage comprises a two-storey commercial property occupied by Magners Chemist on the ground floor and Butler Smith Letting Agents on the first floor. Magner’s Pharmacy are on a 22-year lease from 5th March 2007 on a rent of €50,000 pa Butler Smith Letting Agents are on a 4-year 9-month lease from 15th September 2013 paying a rent of 10,800 pa. The property extends to a total of 299.53 sq m (3,225 sq ft) with a total current income of €60,800 pa.
Euro House comprises a two-storey commercial property occupied by the Tanning Salon who trade from the ground and first floors. The property extends to 318.06 sq m (3,423 sq ft) and the tenant is overholding on an expired lease paying a rent of €53,122 per annum.
The total current rent receivable for the two properties is €113,922 pa.
Guide Price - €1,050,000
Net Initial Yield – 10.39%.