Savills is guiding €1.35 million for a high-profile retail investment at 2 South Anne Street, Dublin 2, which will give a purchaser a net initial return of 6.2 per cent.

The four-storey over basement mid-terrace building is only 25 metres from Grafton Street. It is currently let to Salon Hairdressing, which is run by Alan Keville Ltd, at a rent of €87,500 which is due to rise to €92,000 in July 2015

The 15-year full repairing and insuring lease dates from 2011.

Leona Mullen, who is handling the sale, said she was expecting a significant level of interest in the property from local investors because of its location and the fact that it was easy to manage.

She also said that the South Anne Street area would be enhanced with the arrival of the Dawson Street northbound Luas stop, which will form part of the Luas Cross City line.