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55 Grafton Street, Dublin 2

Investment Property (63.44 sqm) For Sale by Private Treaty
of

Price €4,250,000

Features

  • High profile ground floor retail unit & basement store situated on Dublin's premier shopping thoroughfare
  • Entire extends to approx 63.44 sq.m (683 sq.ft)
  • Strong Tenant Covenant - Swatch Group UK Limited
  • Leased on 40 year lease from December 1980 (2.63 years secure)
  • Passing rent of €180,000 pa which is considered reversionary in the current market
  • Tenant not affected

Location

Grafton Street is considered the premium destination for retailers in Ireland and is the most visited retail destination in the country. The total pedestrian footfall for 2017 was estimated at over 26.1 million.

New retailers which have recently taken space on Grafton Street include The White Company, Smiggle, Rituals, Victoria Secret, and & Other Stories showcasing the continued depth of demand for retail presence on the street.

No. 55 Grafton Street occupies a prime position at the south west corner of Grafton Street, near to the junction with St. Stephen’s Green and South King Street, Dublin 2.

Other retailers in the immediate vicinity of the subject property include Disney, United Colours of Benetton, Ted Baker, Vans, Footlocker and Life Style Sports.

The immediate environs to Grafton Street offer an array of high end restaurants, bars, hotels, and retail stores. The street also benefits from easy access to all public transport links including bus, rail (DART) and tram (LUAS) services.

Full Description

The property comprises the ground floor retail unit and basement store of No. 55 Grafton Street. The ground floor consists of a high profile retail showroom and a rear store/office area. The basement is accessed via a hatch within the rear store/office area and is suitable for ancillary storage accommodation only.

The entire extends to approximately 63.44 sq.m (683 sqft) with the building benefiting from a retail frontage of approximately 5.4 metres. The upper floor of the building is in separate ownership and does not form part of this sale.

Accommodation

Floor Sq.M Sq.Ft ITZA Sq.Ft
Ground Floor Retail 30.33 NIA 327 NIA 309.1
Ground Floor Rear 8.38 NIA 90 NIA  
Basement Store 24.73* 266*  
Total 63.44 683  

* Area of restricted height (approx 1.5m)

All intending purchasers are specifically advised to verify the floor areas and undertake their own due diligence in this regard. 

Tenancy

The property is leased to The Swatch Group UK Limited on a 40 year FRI lease from 12 December 1980. The contracted rent is €180,000 per annum, equivalent to a Zone A rent of €570psf.

The Swatch Group manufactures and sells finished watches, jewellery, watch movements and components worldwide. The group includes brands such as Breguet, Harry Winston, Omega, Tissot, CK Calvin Klein and Swatch. Based off accounts filed 31 December 2016, The Swatch Group UK Limited has a tangible net worth of GB£34,898,000 with a turnover of GB£81,318,000. The company has a current Dun and Bradstreet Rating of 4A1.

Viewing Details

By special appointment with the sole letting agent, Lisney.

BER Details

BER: G
BER No. 800125486
Energy Performance Indicator: 1604.4 kWh/m2/yr

Solicitor

Arthur Cox

Contact Details

Address: St Stephen's Green House, Earlsfort Terrace, Dublin 2
Telephone: +353-1-638 2700 or you can also email us at dublin@lisney.com

Lisney for themselves and the Vendor/Lessor whose Agents they are give notice that:

1. These particulars do not constitute any part of an offer or contract.

2. All statements contained in these particulars as to this property are made without responsibility on the part of the Agents or the Vendor/Lessor and none of the statements contained in these particulars as to this property are to be relied on as statements or representations of fact.

3. The particulars, various plans, photographs, dimensions, references to condition and permissions for use and occupation  are given in good faith and are believed to be correct but their accuracy is not guaranteed and any intending Purchasers or Tenants shall satisfy themselves by inspection or otherwise as to correctness of each of them. No omission, accidental error or misdescription shall be ground for a claim for compensation or for the rescission of the contract by either the Vendor/Lessor or the Purchaser/Tenant.

  4. Neither the Vendor/Lessor nor Lisney nor any person in their employment has any authority to make or give any representation or warranty whatever in relation to the property. 5. Prices are quoted exclusive of VAT (unless otherwise stated) and all negotiations are conducted on the basis that the Purchaser/Tenant shall be liable for any VAT arising on the transaction. PSRA No. 001848.

Please note we have not tested any apparatus, fixtures, fittings, or services. Interested parties must undertake their own investigation into the working order of these items. All measurements are approximate and photographs provided for guidance only.

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