Retail: A private investor has paid around €3.2 million - €70,000 above the guide price - for a retail investment at 14 and 16 South Great George's Street, Dublin 2.
Lisney handled the sale of the two shops which are producing a combined rent of €126,974 under a lease with 20 years to run.
The initial yield is around 3.8 per cent but the return is expected to rise next September when the rent is reviewed. Number 14 trades as In Wear, a fashion outlet, and has a floor area of 162.98 sq m (1,754 sq ft) on three levels.
Both shops are sublet on a short-term basis, number 16 being occupied by Oil & Vinegar, a recently opened Dutch franchise. It has 154.59 sq m (2,740 sq ft) of floor space on two levels. South Great George's Street has attracted several new restaurant and house furnishing stores in recent years and is now one of the busiest secondary streets in the south inner city.
The relocation of wholesale fashion retailers from George's Street and other adjoining streets has opened the way for new retail outlets, many of them fashion, hairdressing and food.
