A high-profile mixed-use investment at 51 Dawson Street in Dublin 2 is guiding €4.25 million through agent JLL, which would reflect a net initial yield of 6.5 per cent.

The property, which is divided into three buildings, contains more than 790sq m (8,500sq ft) of retail and office space. More than 80 per cent of its €290,000 rent roll comes from retail units, with scope to increase this through letting vacant space and asset-management opportunities.

51A and B are interconnected to provide two retail units at ground floor and basement level that are let to menswear outlet Baumler and the newly opened Featherblade steakhouse restaurant. The three upper floors of office space are divided into individual rooms for smaller requirements and part of this is let to McNamara and Associates. JLL says the remaining office space is vacant and in need of refurbishment.

The four-storey-over-basement building at 51C occupies the corner of Dawson Street and Duke Street. Its ground floor, mezzanine and first floor is a high-quality retail space with ancillary storage and office space on the upper floors and in the basement. It is let on a short-term agreement to Optica but the agent expects strong demand for this space when the tenant vacates in the coming months.

This part of Dawson Street has a high footfall and will have a Luas stop metres from the property when the green line extension is complete. There is also more than 20,439sq m (220,000sq ft) of office space under construction across three schemes on Dawson Street and Molesworth Street.