Investor to pay €3.6m for two Grafton Street shops

A private investor has agreed to pay €3.6 million for two adjoining retail buildings near the bottom of Dublin’s Grafton Street.

Natalie Brennan of CBRE had been seeking €3.8 million for the vacant buildings which may well be amalgamated by the new owner because of the strong preference for larger style floorplates.

Number 117 was occupied for many years by pipes and cigar specialists Petersons of Dublin who have relocated to nearby Nassau Street while number 118 was rented for many years by the UK travel agent Thomas Cook. Though the retail areas are quite limited, the two buildings have an overall floor area of 460sq m (4,951sq ft).

CBRE handled the sale for Michael Cotter and Luke Charlton of Ernst & Young who were appointed statuary receivers by AIB.