A food and beverage investment on busy Gardiner St in Dublin 1 is for sale with a €600,000 guide price. Known as Art Café and situated directly underneath the arches of the Gardiner Street Railway Bridge, it enjoys an enviable trading position set alongside some of the city's most prominent hostels, including Paddywagon and Isaacs Hostel.
Richard O'Neill of selling agent Artis Real Estate says it is let under a 35-year lease from June 2012, at an annual rent of €48,000 reflecting a net initial yield of 7.28pc.
With the benefit of dual frontage, the two-storey building extends to 1,765 sq ft with café and restaurant on the ground floor and a further retail area on the first floor.
While the lease allows open market rent reviews every three years, that the rent has been unadjusted since 2012, may provide potential reversionary.