The Henry Street Collection, three prime high street shops on North Dublin’s premier shopping street, is being offered to the market, guiding in excess of €26m. 16, 17 & 45 Henry Street comprise a portfolio of three mid-terraced buildings located extending to a total floor area of 1,241m² NIA which includes 446m² of ground floor retail space. The combined frontage onto Henry Street totals 24.8m.
The properties are all located in close proximity to the Arnotts and Debenhams Department Stores, as well as an impressive range of national and internationally recognised brands including Next, Zara, River Island, Topshop, JD Sports and H&M. The new lettings to JD Sports in the Jervis Centre and Next in the newly constructed Blue Building highlight occupiers continued focus on core locations and the underlying depth of demand underpinning retail performance on Henry Street.
The Collection is fully let generating a total rent of €1.1m per annum. No. 16 is let to GameStop Group, No. 17 to Nature’s Way Limited (trading as Holland & Barrett) and Fat Face occupy the ground, basement and part first floor of No. 45. The remaining upper floors do not form part of this sale.
The sale is being handled by Savills who anticipates strong interest from both domestic and international investors looking to gain a foothold or expand their presence on Ireland’s busiest retail thoroughfare. The guide price, in excess of €26 m for the entire, equates to an attractive net initial yield of 3.95%.
Fergus O’Farrell of Savills commented: “Retailers are increasingly focused on opening stores in prime locations and recent lettings to Next and JD Sports demonstrate a robust occupier market that is benefiting from this strategy. The Henry Street Collection is an excellent opportunity to acquire high street investments of scale on one of Dublin’s premier retail thoroughfares. We anticipate strong interest, both from investors looking to increase their footprint on the street and from new investors looking to gain a foothold on one of Europe’s best shopping districts.”
