A RETAIL investment going for sale on Dublin’s Dawson Street at €1.2 million is likely to be seen by many as a bargain given the previous value of buildings on the street.

Conor Brady of Lisney, who is handling the sale of number 32, The Telephone Centre, on behalf of executors, says the asking price for the four-storey over basement building “reflects the current depressed market conditions”.

The period building has a total internal floor area of 139.3sq m (1,500sq ft), including 35.6sq m (383sq ft) in the retail unit on the ground floor. The current rent of €55,000 is to be reviewed in June.

Three years ago, an investor paid €500,000 for the freehold interest in the adjoining building, number 31, even though it is let at a fixed annual rent of €444 until 2056.