Real estate advisors Savills has launched a series of Dublin city centre properties called the ‘Grafton Collection’ to the market, with a guide price of €40m.

The Grafton Collection is being offered for sale in its entirety, or as two lots.

The properties comprise 21-23 Grafton Street and 24 Duke Street (lot one), and Creation Arcade (lot two), which fronts onto Duke Street, Lemon Street and Duke Lane.

The combined rental income is around €1.95 million per annum.

Tenants in lot one include Fields and Hickey’s Pharmacy, with a rent roll of approximately €1.3m per annum.

In Association with

Lot two’s property is let to Nepresso, with the new Hyde bar and restaurant, which is currently being fitted out. The current rent roll is around €625,000 per annum.

Domhnaill O'Sullivan, director of investments at Savills Ireland, said: “Savills expect strong interest from institutional investors who continue to pursue prime high street retail assets.

“The collection offers high-profile assets on Ireland’s premier retail street. With an evolving retail sector and an increase in occupier demand, Grafton Street is witnessing strong rental growth, making it a number one choice for investors.”

Retail Investments

Separately, Kennedy Wilson Europe Real Estate, announced the sale of four of its prime Dublin city centre investments, with a combined guide price of over €14.5m.

The properties are:

+ 35 Henry Street, Dublin 1 (3 store)
+ 16 Westmorland Street, Dublin 2 (KFC)
+ 3 College Green, Dublin 2 (Costa Coffee)
+ 18 Fleet Street, Dublin 2 (Paddy Power)

Dessie Kilkenny of Savills said: “Given the high profile city centre locations of these retail assets, we expect demand, particularly from private and non-property related investors, to be exceptionally high.”