Property That Houses Dublin's Big Fan Restaurant Hits The Market
The property on Dublin's Aungier Street that that houses Chinese street food restaurant Big Fan has hit the market via estate agency Knight Frank with a guide price in excess of €1.5 million.
As reported by The Business Post, the property's ground floor houses Big Fan while its upper floors contain six residential apartments.
The property's net internal floor area extends to approximately 330 square metres.
Big Fan Lease And Annual Passing Rent
Big Fan is let on a 35 year full repairing and insuring lease (FRI) lease that began on July 11, 2005, with an annual rental rate of €50,000, offering a 19.7 year unexpired term and further scope for reversionary potential in the medium to long term.
The property's annual passing rent is in the order of €127,820 on the assumption of re-renting one of its vacant residential apartments, which is being held vacant for the purpose of the sale.
Investors would get a gross initial yield of approximately 8.5% at the property's current guide price.
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