Friary office building in Smithfield sells for €2.2m

Commercial property advisers QRE have sold a highyielding office investment in Smithfield, Dublin 7, for €2.2 million. The Friary was originally put on the market last year but later withdrawn because of title issues which have since been resolved. The latest sale will show a net initial yield of around 9.7 per cent.

The four-storey, 972sq m (10,460sq ft) building is producing €200,400 from four tenants: The Law Society, Enovation Solutions, Detail Design and Friary Solicitors. There are 10 car-parking spaces at the front of the building.