Sign in. It’s quick, free and it’s up to you.
An account is an optional way to support the work we do. Find out more.
Avoca's building on Suffolk St, Dublin Google Maps
Property
Building housing Avoca up for sale for €6 million
The building costs Avoca €430k to rent a year, and they have a 25-year lease.
THE BUILDING THAT houses the Avoca store in Dublin City Centre is for sale for €6 million.
Savills announced today that it has brought 11-13 Suffolk Street, Dublin 2 to the market for sale by private treaty on behalf of Davy Property.
The property is currently rented by Avoca, which pays €430k a year in rent.
Landmark
It expects the landmark Dublin property to attract “significant levels of interest” when it is offered for sale with a guide price of €6 million. According to Savills, this price equates to a net initial yield of 7.02 per cent after the fixed rental increase from December 2013.
The property is let in its entirety to Avoca Handweavers Limited on a 25 year lease from December 1999, and there are around 11 years unexpired in the lease, with no break options.
The current rent is €430,000 per year, which will increase to €440,000 per year in December 2013.
It is a four-storey building over a basement, and has 864 sqm (9,303 sqft) of retail space. It also has a roof top garden and over 16.5 metres of frontage to Suffolk Street.
have your say