Prime retail investment in Dublin 2 goes on the market for €2.2m

The four-storey property on Wicklow Street is fully let with a rent toll of €102k a year

Number 22 Wicklow Street is fully let, with the ground and basement floors on a 20-year lease

Number 22 Wicklow Street is fully let, with the ground and basement floors on a 20-year lease

 

A retail and office investment at 22 Wicklow Street in Dublin 2 is new to the market this week at €2.2 million through agent CBRE.

It is fully let and producing a rent roll of €102,000 per annum. Based on the guide price, this would reflect a net initial yield of 4.27 per cent.

The four-storey-over-basement property extends to 185sq m (1,991sq ft).

KNails occupy the basement and ground floor – about 79sq m (850sq ft) – on a 20-year lease from February 2019 at a rent of €72,000. There is a tenant break option at year 10.

The first, second and third floors – extending to about 106sq m (1,142sq ft) of office space – are occupied by Equindo Ltd on a five-year lease from March 2016 at a rent of €30,000 per annum.

There is dual access to the ground and upper floors.

This part of Wicklow Street is two minutes walk from Grafton Street and is very much in the heart of the capital.

No 19 Wicklow Street, slightly larger at 289sq m (3,111sq ft) over five levels, sold in early 2017 for €2 million while producing rent of €103,100 from long-term tenants Cornucopia and Louis Copeland. It attracted 27 enquiries.