Monday 23 April 2018

Liffey Street retail unit at 8.75pc yield

GVA Donall O'Buachalla are seeking €500,000 for this Liffey St retail unit
GVA Donall O'Buachalla are seeking €500,000 for this Liffey St retail unit
Peter Flanagan

Peter Flanagan

GVA Donal O Buachalla are seeking offers in excess of €525,000 for a retail investment in the heart of Dublin city centre.

The property at 13 Liffey Street Upper, Dublin 1 extends to three stories over basement and benefits from excellent profile and a high level of footfall.

The property is located adjacent to Arnotts Department Store on the east side of Liffey Street Upper close to its junction with Henry Street.

The shop unit is let to a homeware / hardware store "All Seasons" on a 25 year lease from 28th June 2010 and at the time of sale the total passing rent will be €48,000 per annum.

The property has a double - height retail space incorporating the ground and first floors and the second floor and basement are in use as storage space and offices.

The quoting price represents a net initial 8.75pc less standard purchaser's costs of 4.46pc.

Sselling agent Jack Scales commented: "The investment represents excellent value for a well located city centre retail property, we expect strong interest from domestic investors seeking to benefit from the current capital gains tax incentive which is due to expire at the end of this year".

The unit is located right in the heart of Dublin's main shopping district and is said to take in a huge volume of passing trade on a daily basis.

It is close to Henry Street and blue chip retailers including Arnotts and Debenhams.

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