Ranelagh ice cream parlour a sweet investment for €350k

Seasoned private investors or those small landlords looking for a more-easily managed investment than the one now offered by the residential rental market may be interested in the sale of 22 Sandford Road, Ranelagh, Dublin.

Located at the southern end of the south Dublin village and immediately across the road from Sandford Park School, the subject property comes to the market fully let to the popular Scoop Dessert Parlour at a guide price of €350,000, reflecting a gross initial yield of 6.85 per cent. The tenant has occupied the property on a full repairing and insuring (FRI) long-term lease since January 1st, 2016, and is paying a rent of €24,000 per annum currently.

The proprietors of Scoop Dessert Parlour effected a sale-and-leaseback of the subject property in August 2017 for €315,000. The present owner has since then enjoyed the benefit of what selling agent Ian McCarthy describes as a “hands-off” and “hassle-free” investment. They are now seeking to release their equity in the investment having secured 5.5 years of positive rental income.

The subject property is well located in the affluent suburb of Ranelagh, an area with a high population and relatively young demographic which serves to bolster the tenant’s business and covenant.

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Commenting on the sale, Ian McCarthy says: “Despite the current interest-rate environment, the 6.85 per cent yield on offer here is a very positive one for an attractive “bite-size” investment. It certainly beats a similar residential investment where the rent would be diminished annually by both service and maintenance charges.”

For further information interested parties may contact Mr McCarthy (PSRA licence no. 002950) by phoning +353 86 2540 227.