Amiens Street investment at €1.2m has scope for income growth

Portfolio of five fully-let retail units is well located next to Dublin’s Connolly station

The Amiens Street investment consists of five units comprising 274sq m (2,950sq ft) of space.

The Amiens Street investment consists of five units comprising 274sq m (2,950sq ft) of space.

 

Agent Kelly Walsh is seeking offers in excess of €1.2 million for an investment portfolio comprising five adjoining retail units at Guild Court on Amiens Street in Dublin city centre.

Located directly opposite the entrance to Connolly train station and the IFSC, the properties extend to a combined area of 274sq m (2,950sq ft), all of which is located at ground-floor level. Each of the five units is fully-occupied, and together the properties are delivering total rental income of €99,600 per annum, with significant reversionary potential.

The investment’s close proximity to the IFSC offers access to a wide range of amenities including retail outlets, banks, cafes, bars and restaurants. The presence of the Dart, Luas and mainline rail services at Connolly station, coupled with the availability of bus services at Busáras make Amiens Street one of the most accessible locations in Dublin city centre.

Regeneration

Amiens Street has undergone extensive urban regeneration and redevelopment over recent years. That programme of renewal looks set to continue with plans by developer Sean Mulryan’s Ballymore and its partners, Oxley Holdings, to deliver a major mixed-use scheme to be known as the Connolly Quarter on a 2.88 hectare (7.12 acre) site immediately adjacent to Connolly station.

The residential element of the proposed development includes 741 apartments distributed across eight blocks ranging in height from four storeys (39.6m) to 23 storeys (79.45m), while the commercial element is set to comprise of two office buildings and a hotel.

Over on the south side of the city centre meanwhile, Kelly Walsh is quoting a price of €700,000 for a commercial investment property at 67, Lower Camden Street, Dublin 2.

The ground floor and basement of the property is let to Restore Health Centre Ltd while the upper floors are let on similar terms to a private individual. Both leases are for 10 years dating from September 1st, 2019.

The subject property is producing total rental income of €50,000 per annum.