is being offered for sale at the new and much reduced price of €2.15 million. The new figure represents a 14 per cent discount on the amount sought when it was first put on the market last October.end of the capital’s foremost retail thoroughfare, the subject property comprises the ground floor and basement level of number 55 and extends across a total area of 64sq m .
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 new guide price, the purchaser would be in line for a net initial yield of 6.34 per cent after the deduction of standard purchaser’s costs of 9.96 per cent.
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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