The prominent newspaper and coffee kiosk in the centre of Ballsbridge, Dublin 4 has been sold to a private investor for almost €250,000, about €50,000 above the guide price.

At that price the new owner will earn a return of around 6 per cent.

The kiosk, which is at the junction of Lansdowne Road, Pembroke Road and Northumberland Road is let to Silverskin Coffee Roasters at a rent of €15,600. The short-term lease runs until January 2017.

Natalie Brennan of CBRE, who handled the sale of the hexagon-shaped kiosk which has a floor area of 3.4sq m (37sq ft), said the sale had attracted "widespread interest and keen bidding."

The kiosk was originally bought during the 1989 property boom for £132,000 (€167,605 ) by the late property developer Phil Monahan. Two years later it was withdrawn at a Gunne auction at £155,000 (€186,000)and sold subsequently.