€1.15m for Kevin Street mixed-use investment in Dublin 8

A mixed-use investment at 3-4 Lower Kevin Street, Dublin 8, is quoting €1.15 million through Bannon.

The retail and office scheme is producing a rent roll of €108,902 per annum with an average unexpired lease term of 14 years.

This would suggest a return of more than 9 per cent for investors after standard acquisition costs are taken into account.

Extending to 555.2sq m (5,976sq ft), the property is at the junction of Kevin Street and Wexford Street, with St Stephen’s Green about 400 metres away. DIT campuses at Kevin Street and Aungier Street are nearby while the Bishops Square office complex is across the road.

The ground-floor tenant line-up comprises The Opticians Kevin Street and Hot & Chili takeaway, which both occupy their respective units on new leases. On the upper floors, Qualcom, a leading IT Service provider, occupies most of the space under a long-term lease, while Elliot Corrigan accountants are on the top floor.