Investors looking for a foothold in what is arguably Dublin city centre’s most sought-after location will be interested in the sale ofLocated at 29-30 Dawson Street, the property is being offered to the market by agent Colliers at a guide price of €3.8 million. The investment is fully let and producing total rental income of €263,000 per annum, giving the prospective purchaser the opportunity to secure a net initial yield of 6.29 per cent.
The first, second and third floors are in office use and held under three separate leases. The total passing rent here is €100,000 per annum. Chartered surveying firm, Bagnall Doyle McMahon occupies the first floor on a 15-year lease from January 2018 with a tenant break option in December 2023. Property management company, BPL Management Ltd, occupies the second floor under a 10-year lease from October 2016 with a tenant break option in October 2022.
Number 29-30 Dawson Street occupies a prime location 300 metres from Grafton Street, Dublin’s foremost shopping thoroughfare, and is a short walk to the offices of several large-scale corporate occupiers including