A landmark mixed-use investment property at the junction of Camden Street and Harrington Street in Dublin has been sold for a figure understood to be in excess of €1.2 million.
No 12 Camden Street Upper briefly comprises a four-storey-over-basement building extending to 254sq m (2,734sq ft). The property will be best known to the residents of, and visitors to, Dublin’s south city centre as the home of Brady’s pharmacy. The ground floor of the building has traded as a pharmacy since 1894, while the Brady family has owned the entire property since the 1920s.
At the time of sale, the building was producing a total income of €64,000 per annum from two tenants. The property offered significant reversionary potential on the upper floors, owing to a spacious two-bedroom duplex unit which is currently vacant and in need of capital expenditure.
Mark Fitzpatrick, who handled the sale on behalf of Cushman & Wakefield, said: "The sale attracted significant interest, particularly from private domestic cash buyers who were attracted to the property's high-profile location and reversionary potential."
Mr Fitzpatrick declined to comment on the price achieved by the property.
The purchaser, Irish Properties Limited, was represented on the acquisition side by Nigel Kingston of Lambert Smith Hampton.
