Stephen McCarthy of Savills is guiding prices of €1.95 million and €1.4 million respectively for two retail investments at Nos 34-35 and No 31 Liffey Street in Dublin city centre.
Both properties offer the purchaser an excellent location directly opposite the Liffey Street entrance of Arnotts department store and immediately adjacent to developer Noel Smyth's new hotel development. The subject properties are also located within a short walk of the Abbey Street stop of the Luas red line.
No 34-35 Liffey Street briefly comprises a double-fronted property with two- level retail trading. The entire is leased to the Scout Association of Ireland Trust Ltd for a term of 35 years from December 1st, 1994 subject to a passing rent of €120,000 per annum. The lease provides for upward-only rent reviews.
No 31 Liffey Street, which is located next door to Marks & Spencer’s flagship Mary Street store, is leased to D&L Household Goods & Gifts Ltd t/a All Seasons for a term of 35 years from 1986 subject to a passing rent of €80,000 per annum. As is the case with No 34-35, the lease provides for upward-only rent reviews.
Closer to the riverfront meanwhile, Stephen McCarthy has brought two freehold retail units at No 32 Lower Liffey Street to the market for €850,000 each.
The units extend to 61sq m and 50sq m respectively. The larger of the properties was occupied formerly by Irish computer retailer, Click, while the smaller unit had been occupied by the Traditional Craft Bakery. No 32 is located adjacent to the well-known Grand Social Bar.
Both units are being offered for sale with full vacant possession affording the new owner the option to either lease them immediately on new long-term leases, or opt for a short-term temporary letting pending the procurement of planning permission to realise their development potential.
The appeal of Lower Liffey Street is expected to be enhanced with Dublin City Council’s completion of the proposed Liffey Street Plaza in 2020.
