Invest in Kerry income-earning options with ‘blue chip’ tenants

Options include Killarney town centre withe ETB as a tenant and on the Wild Atlantic Way's Waterville with the HSE paying rent

Wed, 19 Oct, 2022 - 18:30

Property Editor Tommy Barker reports

TWO bite-sizes Co Kerry properties, with 'blue-chip' tenants, are on offer to investors in strikingly different profile setting.

Facing the sea in scenic Waterville is the Waterville Medical Centre, a very high quality mixed use property with the HSE as one tenant in ground floor offices, on a five year lease from 2020, along with doctors' surgery on a renewed lease and four overhead two-bed apartments.

The Wild Atlantic Way investment, in a setting by the ocean and two top golf courses, is a well-presented substantial property on Lower Main Street, has an income of €76,000 pa says selling agent Paul Stephenson of Sherry FitzGerald Stephenson Crean who guides at €700,000 for a gross yield return of 10.4%. He says it's already getting both local and national interest.

Meanwhile, in Killarney an investment with the Kerry Education Training Board as tenant is offered at 25 High Street.

25 High Street Killarney is let to Kerry ETB at €46,000 pa, and is guiding €850,000

The 4,300 sq ft ground floor office is now leased to the ETB on a ten year lease from 2021, with a review at year five. It's near the town's High Street carpark and Penneys carpark, and after a quality fit out has a reception, two classrooms, private office, canteen and other services.

Selling agent Sam Kingston of Casey & Kingston guides at €850,000 and notes that it has a rental income of €46,000 pa and at that shows a gross potential yield of 5.6%, saying "this is an excellent opportunity to acquire a prime investment property with a tenant already in situ after planning was granted for a change of use for the ETB."