Wicklow Street shop for €2.5m

The renewed interest in Dublin city centre retail investments will again be in evidence this week when Savills seeks a buyer for number 18 Wicklow Street which is rented by men's outfitters, Louis Copeland & Sons.

Diane Crean of the selling agents is seeking in excess of €2.5 million for the four-storey over basement mid-terrace building which is rented at €170,000 per annum and will give a buyer a net initial return of 6.51 per cent.

The 296sq m (3,187sq ft) building has retail space on the ground and first floors while the remaining floors are used as ancillary accommodation. The building is let to Copeland on a 25-year lease from 1998 with over 9.5 years remaining and upwards-only rent reviews available. The fashion house has six stores in Dublin and one in Galway.

Wicklow Street remains one of the strongest trading streets in the city centre, helped in part by the opening of trendy new restaurants in the area around the junction with South William Street, Exchequer Street and Andrew Street.

Wicklow Street is also set to get another major boost in the coming weeks with the planned opening of the high quality fashion trader COS opposite the side entrance to Brown Thomas.