Four-storey over basement building sells for €1.25m

A prominent retail investment close to Dublin’s O’Connell Bridge has just been sold after competitive bidding for €1.25 million – €250,000 above the guide price.

The four-storey over basement building at 1-2 Eden Quay is producing rents of €84,900 with €50,000 of it coming from the Daybreak newsagency on the ground floor and basement.

The first, second and third floors are let under five short leases at a combined rent of €28,900, while the apartment on the top floor brings the overall rent roll to €84,900. The sale was handled by Christopher Belton of Lisney and Fiona Kennedy of CBRE.