Investments
Ref 207160

70 Grafton Street

South City Centre
Dublin, D02 AP68

For sale€11,200,000
Size9,391 ft² / 872 m² (approx. 87 desks)

Summary

Prime retail and aparthotel investment opportunity situated on Ireland’s premier shopping street.

  • 70 Grafton Street benefits from dual frontage onto Grafton Street and Harry Street
  • Extends to 872.5 sq m (9,391 sq ft) over four storeys and basement.
  • Fully let to high quality tenants Permanent TSB PLC, City Break Apartments Ltd. and Vantage Towers (Mast).
  • WAULT of 14.5+ years.
  • Total rent receivable €647,343 pa.
  • BER C1/D2.
  • Guide price: Excess €11.2 million (subject to contract and exclusive of VAT) reflecting a net initial yield of approx. 5.25%, assuming standard purchaser costs of 9.96%.

Description

70 Grafton Street comprises the freehold interest of a four story over basement mixed use property
extending to approximately 872.5 sq m (9,391 sq ft).

The property is arranged to provide bank accommodation on basement, ground, mezzanine and
first floor levels, with an aparthotel, at ground, second, third and fourth floor levels.

The building is of traditional construction; finished with a part glazed / part stone façade at ground floor level with red brick façade at upper floor levels. Dual pedestrian access is provided directly off Grafton Street and Harry Street for the bank accommodation and access to the aparthotel is from Harry Street.

Internally, the bank element is fitted out as retail accommodation at ground floor level, storage and
staff facilities at basement level, office at mezzanine level and retail/office accommodation on the
first floor level.

There is a single passenger lift serving ground, first and basement floors.

The aparthotel is arranged to provide 17 studios, all fitted to hotel standard with the added benefit
of fitted kitchens. Access to the upper floors is via a core stairwell and one 6 person passenger lift.
We understand that the building is not a protected structur

Building Energy Rating

Building Energy Rating D2

Location and Transport

70 Grafton Street commands a prominent corner position on the junction of Grafton Street and Harry Street and benefits from dual frontage onto both streets.

Boasting annual footfall of approximately 25 million people, Grafton Street is Ireland’s premier retail street and is home to a host of high street and luxury retailers including Hugo Boss, Russell & Bromley, Lululemon, Massimo Dutti, Victoria’s Secret, Marks & Spencer, Boots, Lego, Boodles, Dune, Pandora, Skechers and Canada Goose.

The area is well served by an array of transport nodes including Dublin Bus, the DART and the Luas (green line).