Eddie Rocket’s on South Anne Street sold for €3.3 million
No 27 on same street fetches €2.1 million – will over the €1.75 guide price
27 South Anne Street: sold for €2.1 million by Savills
Two retail investments in Dublin’s South Anne Street have been sold to private investors. Lisney has secured just over the guide price of €3.3 million for Eddie Rocket’s fast food restaurant which is producing a net rent of €244,265 per annum.
The new owner will get a return of seven per cent on the investment which has another nine years to run with the same tenant. The building has an overall floor area of 396 sq m (4,264 sq ft) of which almost 102 sqm (1,097 s q ft) are on the ground floor.
Meanwhile, Savills have achieved a price of €2.1 million – well above the €1.75 million guide –for 27 South Anne Street which is producing a rental income of €145,000 with €90,000 of it coming as an abated rent from Smiles Dental. The yield will be 6.5 per cent. A beauty salon on the second floor is paying a rent of €40,000 while a further €15,000 comes from the Italian Heel Bar.