DTZ Sherry FitzGerald seek €1,275,000 for The Grooming Rooms

The continuing demand for individual retail investments in Dublin city centre has triggered another likely investment sale on the increasingly busy South William Street.

DTZ Sherry FitzGerald is seeking in excess of €1,275,000 for The Grooming Rooms on the opposite side of the street from the Powerscourt Townhouse Centre and Coppinger Row. The period building extends to over 307 sq m (3,309 sq ft) and was extensively refurbished in 2007. It is let entirely to The Grooming Rooms on a 21-year full repairing and insuring lease from 2008, providing an unexpired term of 14.47 years at a rent of €100,000 per annum.

At the current asking price, the investment would provide an initial yield of 7.5 per cent once the standard purchasers costs of 4.46 per cent are taken into account.

Clive Roche of DTZ said the lot size, combined with its city centre location and long term income stream would undoubtedly appeal to individual investors anxious to avail of the capital gains tax exemption.