Just in case you had any doubts, the property boom is officially back as 42-43 Henry Street is on the market for a colossal €18 million.
Currently the location of woman’s fashion outlet Evans, the property is expected to receive a lot of attention from investment funds.
The property is currently let to the Arcadia group, with an annual rental income of €865,000 and 3.6 years left on its 35-year lease.
Any potential investor would benefit from the rental income until 2020 and then be able to arrange a new lease with any companies looking for a city centre retail unit.
Leading the sale, Kevin McMahon of Savills told The Irish Times that “42-43 Henry Street offered a unique opportunity for both domestic and international investors to secure a high-profile retail investment with numerous asset management initiatives on one of Ireland’s premier streets”.
With Dublin’s retail sector witnessing a boost in recent years, we expect this property will be snapped up fairly quickly.