Monday 25 September 2017

Liffey St unit for €630k

A retail investment property on one of Dublin's busier retail streets is being offered for sale with a €630,000 guide price.

Located at 21 Upper Liffey Street, it is let to mens' fashion retailer, Storm under a 10-year full repairing and insuring lease from February 2010.

The contracted lease rent is €81,667 a year but the landlord has accepted a rental payment of €52,000 a year or €1,000 a week from the tenant, Michael Rochford, trading as Storm and who has traded in the property since 1991. The tenant is not affected by the sale. Sharon Walsh of agents HWBC says a purchase at this level would produce an income yield of 7.9pc after allowance for normal acquisition costs of 4.46pc.

The entire mid-terraced building comprises almost 142sqm and its accommodation comprises ground floor retail of almost 73sqm as well as storage space at basement and mezzanine levels. It is owned by Canada Life, the assurance company.

A freehold property, it is located on the busy pedestrian route connecting Grafton Street, Temple Bar and the Luas Red line Jervis station with Henry Street.

Significant retail occupiers in the immediate vicinity include Marks & Spencer, Arnotts, Debenhams, Dunnes Stores and Penneys.

Irish Independent

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