Dame Street teaser

A mixed use retail and office building which is almost fully let at 29/30 Dame Street, Dublin 2, is expected to sell for around €2.2 million when it goes for sale today through Peter Owens of Savills. With the rent roll currently at €220,080, the successful investor can expect a yield of around 9.58 per cent.

The building is to be sold on the instructions of Cormac O'Connor of KPMG who was appointed receiver to the privately owned company.

The double-fronted block has an overall floor area of over 812sq m (8,747sq ft) of which 226sq m (2,440sq ft) is in retail use on the ground floor. The highest rent of €79,350 comes from Boyles Sports who occupy over 66sq m (720sq ft). Iskanders pay €62,000 for a shop extending to 113sq m (1,220 sq ft) while Sam’s Barbers contribute €20,400 for 46sq m (500sq ft).

The upper floors are laid out in 16 office units, five of which are currently vacant. There are clearly opportunities to boost the rental income by upgrading some of the office units.