Prime Investment Opportunity
High Profile Location Adjacent to Henry Street
Fully Let Producing €115,000 pax
Tenants Not Affected
This property comprises an end of terrace three storey over basement commercial building. The building extends to a total of c.390.31 Sq.m and is laid out to provide retail on the ground and first floors, with storage and offices on the first and second floors.
Nos. 11 & 12 Liffey Street occupy a prime position on this busy shopping thoroughfare and are only 100 metres from the ILAC centre and Henry Street. This area enjoys exceptional footfall and is situated on the main
pedestrian route linking the city’s principal shopping districts of Grafton Street and Henry Street via the Halfpenny Bridge and Temple Bar. This area has enjoyed significant retail growth in recent years, with high-end occupiers such as Zara, the recently refurbished Jervis Centre and Arnotts all close-by, while future development plans for the Moore Street area will further enhance the retail landscape.
This area benefits from excellent transport links with both the Luas Red Line and City Quay only moments away.
We are advised that the property is freehold subject to the following tenancy: The entire is let to Entertainment Exchange Ireland Limited t/a CEX under a 20 year lease from March 2011 and is subject to a reserved rent of €115,000 per annum exclusive. The lease provides for “upwards only rent reviews” at five year intervals. There is a break option in favour of the tenant at the end of year 10.
The purchaser will be liable for any VAT arising out of the transaction.
We are seeking offers in excess of €1,650,000 which represents a net initial yield of 6.43%