A mixed-use investment with Tesco Express as tenant on the ground floor in Dublin 8 is guiding €2.4 million through Colliers International.

The property, at 51/52 Thomas Street, is divided between retail on the ground floor and residential overhead.

It is producing a rent roll of €178,600, which would reflect a net initial yield of 7.12 per cent after allowing for standard purchasers costs of 4.46 per cent.

Number 51/52 is close to the junction with Meath Street, about 2km from Dublin city centre.

The surrounding area has a range of bars, restaurants, cafes and the Vicar Street concert venue.

There are good transport links, with numerous bus routes serving the area, while Luas at St James’s Hospital is a 10-minute walk.

The ground floor retail unit extends to 385sq m (4,147sq ft) and is let to Tesco Ireland at around €118,000 on a 25-year lease from January 2010.

There is a tenant break option at the end of 2024, while a rent review at year 11 is on an upwards-only basis.

There are five apartments overhead producing rent of €60,600 per annum.

These are a mix of one- and two-bed units and are in good condition.

All are let under short-term tenancy agreements for a fixed 12-month period.

In late 2014 the retail element of the building came on the market at €1.6 million