Dublin 8 mixed-use investment at €1.3m has scope for income growth

41 St James’s Street comprises fully-let retail unit and three two-bedroom apartments

The retail unit at 41 St James’s Street is let  on a 25-year  lease from June 2008 with upwards-only rent reviews.

The retail unit at 41 St James’s Street is let on a 25-year lease from June 2008 with upwards-only rent reviews.

 

Agent Colliers International is guiding a price of €1.3 million for a mixed-use investment at the heart of one of Dublin city centre’s fastest-growing locations.

Number 41 St James’s Street comprises a retail unit and three two-bedroom apartments overhead extending to 339sq m (3,656sq ft). The retail unit is fully let to Tranan Holdings (Two) Ltd t/a “Next Door” off-licence on a 25-year full repairing and insuring lease from June 2008 with upwards-only rent reviews.

The passing rent is €61,800 per annum which includes the retail unit and one two-bedroom apartment. The estimated market rent for the entire once the two vacant apartments are let is in the region of €105,000 per annum.

Excellent transport links

The subject property is well located within the Dublin 8 area, and is in close proximity to St James’s Hospital, the home of the new national children’s hospital. The property also overlooks the landmark Pearse Lyons Whiskey Distillery, which is open to the public for tours and tasting.

There are excellent transport links in the immediate vicinity. The James’s Luas red line stop is located nearby, providing regular and rapid access to both Dublin city centre and Heuston station.

Colin O’Shea, who is handling the sale on behalf of Colliers, says: “ We expect to see strong interest from both opportunistic and seasonal investors attracted by the opportunity to secure a high-yielding investment in a central location.”