AIB Investment Managers is to sell a prime retail investments along the busiest stretch of O'Connell Street in Dublin 1. The purpose-built building at 47/48 Lower O'Connell Street dates from 1980 and is let to Champion Sports at a rent of £145,000 per annum. The rent is due to be reviewed next January. Finnegan Menton is quoting a guideline price of £2.25 million for the investment, which, interestingly, is to be sold by auction on October 30th rather than the more usual tender system. It will be the first time in recent years that an institutional investment will be auctioned.

The building is let to Champion Sports (Ireland) Ltd on a 25-year lease with 20 years unexpired. There are no break options. The floor space of 9,000 square feet includes 1,730 square feet at ground floor level. The building is being occupied on temporary basis by Crazy Prices but Champion Sports, which has 14 shops, recently secured planning permission to interconnect numbers 47/48 with its existing store next door. Supermac's fast-food restaurant trades next door.