Private investors looking to gain a foothold on Dublin city centre’s most sought-after shopping street along with a secure return on their investment will be interested in the sale of number 55 Grafton Street.
Located at the St Stephen’s Green end of the capital’s foremost retail thoroughfare, the subject property’s ground floor and basement level extend across a total area of 64 sq m (685 sq ft) and are being offered to the market by agent Colliers at a guide price of €2.5 million.
The investment comes for sale following its recent letting to Claddagh Jewellers on a new, 10-year lease from July 2023 and is subject to a reserved rent of €150,000 annually. Should a sale proceed at the guide price, the new owner would be in line for a net initial yield of 5.46 per cent after the deduction of standard purchaser’s costs.
The tenant, Claddagh Jewellers, is one of Ireland’s best-known and longest established jewellery brands. Trading since 1967, the Irish-owned family company designs and manufactures jewellery in its own workshop in Galway, where it also has a store on Mainguard Street.
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Nigel Kingston, who is handling the sale on behalf of Colliers, says: “This is a really neat investment and will be particularly attractive to a private investor seeking a superbly located building on Ireland’s premier shopping street.”
