It was announced today that 42-43 Henry Street, a high profile retail property in Dublin City Centre, has been brought to the market today with a guide price of €18m.

The property comprises a 4 storey over basement end terraced corner building extending to approx. 961 sq. m. (10,342 sq. ft.) to include approx. 2,800 sq. ft. at ground floor level. 

There are a limited number of other units on Henry Street that can provide this scale of accommodation. The ground, basement and first floors are currently in retail use while the upper floors are utilised as office, storage and ancillary space accommodation.

The property benefits from 14.5m of frontage to Henry Street and a 12m return onto Moore Street.

The property is let in its entirety to Arcadia Group Limited (trading as Evans) on a 35 year lease from October 1985, with approximately 3.6 years unexpired at a current rent of €864,459 per annum.

Savills has been appointed to sell the property and they expect to attract significant levels of interest from both domestic and international investors looking to gain a foothold in Ireland’s busiest retail thoroughfare. The guide price of €18 million equates to an attractive net initial yield of 4.60%.

Speaking today, Kevin McMahon of Savills commented, "42-43 Henry Street offers a unique opportunity for investors both domestic and international seeking to secure a high-profile retail asset with numerous asset management initiatives on one of Ireland’s premier retail streets. The retail sector of the Dublin market has witnessed a significant turnaround in recent years with jobs growth and retail sales resulting in occupier demand from top international brands such as Ann Summers, Victoria’s Secrets, Hugo Boss, COS and H&M’s brand ‘& Other Stories’."

He added, "Investors have the opportunity to obtain a very secure income stream for the next 3.6 years until lease expiry and can then capitalise on the pent up occupational demand for prime high street pitches."

Source: www.businessworld.ie