Woodstown Village Centre sold for €3.8m

The Woodstown Village Centre at Knocklyon, Dublin 16, which was sold in 2006 during the property boom for over €8 million, has been resold for over €3.8million. David Carroll of Bannon handled the sale for Declan McDonald of PwC, who was appointed receiver by the Ulster Bank.

The village centre is a split-level multi-let scheme accommodating 12 units and extending to 1,567sq m (16,874sq ft) anchored by a Spar store which pays a rent of €105,000.

With the village centre producing a rent roll of approximately €400,000, the new owner will get an initial return of 10%, rising to about 11% once tenants are found for the two vacant units.