Agent Bannon is guiding a price of €1.6 million for No 2 South Anne Street, a prime retail investment located just one building from Dublin’s foremost shopping destination, Grafton Street.
The subject property comes up for sale with the benefit of a 10-year lease to jewellery and lifestyle brand, Astrid & Miyu. The lease commenced on 31 July 2023 and generates an annual rental income of €100,000.
Should a sale of the building proceed at the €1.6 million guide price, the purchaser would be in line for a yield of just under 6 per cent.
2 South Anne Street extends to 205.5sq m (2,211 sq ft) of space distributed across five floors. The property includes a substantial retail element with prominent frontage on to one of the city’s most attractive streets.
South Anne Street itself is a main link between Grafton Street and Dawson Street, with excellent connectivity to Dublin’s Luas green Line at Dawson Street and numerous Dublin Bus routes. Grafton Street has an estimated annual footfall of around 20 million people.
Rod Nowlan of Bannon says: “2 South Anne Street offers an ideal opportunity for investors seeking stable, long-term returns at a time when ECB base rates are falling.
“While the lease includes three-yearly break clauses, the rapidly expanding Astrid & Miyu — whose portfolio spans the UK, New York, and Paris — provides reassurance of their longevity enhanced by their solid financial backing (rated 2A1on D&B). The strength of their covenant, combined with the property’s outstanding location, makes 2 South Anne Street a highly appealing investment opportunity.”
