The subject property is a beautiful red brick, twostorey, end of terrace building, with a total floor
area of 2,437 Sq. Ft. There is 1,359 sq. ft. at ground floor level and 1,078 sq. ft. at first floor level.
The property is an excellent investment opportunity, occupied by Thomas Carroll Optician, who have been operating out of the building since 2006 and have been in Dundrum Village since 1972.
Thomas Carroll Opticians hold a 21 Year Lease which commenced in July 2006. There is 7 Years
remaining on the lease with no breaks and the lease is Upward Only. It is our opinion that the building
is let at market rent in today€TM marketplace.
The investment derives a Net Initial Yield of 6.95% after standard purchase costs of 9.92% (stamp
duty 7.5%, legal fees 1%, agent fees 1% together with VAT on fees).
The building was fully refurbished in 2006 and is now a modern opticians€TMpremises with adult€TM
retail space downstairs to the front of the premises along with eye testing rooms and staff facilities
to the rear of the ground floor. The first floor is excellently designed out to provide for children
retail and eye testing rooms/offices to the front along with toilet facilities, storage, and a staff
room to the rear. To the rear of the premises at ground floor level there is a small garden patio, a
perfect place to sit out and enjoy a coffee or your lunch.
Located on Main Street, Dundrum, the property is directly across the road from LIDL and the Old
Dundrum Shopping Centre and on the very busy side of the main pedestrian street where all the
banks, Bank of Ireland, Ulster Bank, AIB, PTSB and Dundrum Credit Union, are located. The
LUAS line stop of Dundrum is only two minutes walk away and the Dundrum Town Centre is
also only two minutes walk away. With all the Town Centre has to offer, the construction of
the new Pembroke Area and the reinvigorated Main Street Area, quite frankly it difficult to see
where you could buy a better located building premises in Dundrum!
Dundrum village is undergoing a major infrastructure project which is nearly complete and now provides a €one-way system for cars, a contra flow cycling lane and extra pedestrian walkway and seating space for the public to enjoy. The works are in response to Covid-19 and aims to see a revival of pedestrian traffic using the village.
BER Details: Exempt
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