Agent JLL is guiding a price of €3 million for No 6 Grafton Street, a high-profile retail investment on Dublin’s most sought-after shopping district.
The property, which will be best known by visitors to the street as the premises of Bus Stop newsagents, comprises a four-storey over-basement mid-terraced redbrick building extending to a net internal area of 242sq m (2,606sq ft) with 5m (16ft) of frontage on to Grafton Street.
The ground and basement levels are let to Greggs Ltd trading as Bus Stop Newsagents and the upper floors are fully let as a tanning salon and internet cafe to Reetont Limited. The two tenants are generating an annual rental income of €140,000, which offers the prospective purchaser strong reversionary potential. Bus Stop has been in occupation in the building since 1985, signing a new lease in 2020, with a break option in 2025. This provides the buyer with the option to extend the weighted average unexpired lease term and capture reversion on their current income in the short term.
Apart from benefitting directly from Grafton Street’s estimated 22 million annual footfall, No 6 is well-served by numerous public transport links within its vicinity, including the Luas green line at St Stephen’s Green, Pearse Street Dart station and several Dubin Bus routes.
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Should a sale of the property proceed at the €3 million guide price, the new owner would stand to secure a reversionary yield of approximately 6.8 per cent following the execution of short-term asset management initiatives.
Sandra Walsh and Max Reilly of JLL say: “No 6 Grafton Street offers an opportunity to gain a foothold on Ireland’s premier retailing street and acquire a highly reversionary income profile.”
