€755,000 for adjoining buildings

Bannon is quoting €755,000 for two adjoining investments on Dublin’s Drury Street which were originally acquired by property developer Bernard McNamara whose loans are now in Nama.

The agency is seeking €350,000 for number 24 which is occupied by a print makers gallery at a “performing rent” of €24,000 per annum. The second building is rented by Fitz clothing alterations at €30,000. The three-storey over basement buildings are well positioned a few doors from the entrance to the Market Arcade.

The basements in both buildings were recently renovated. The investments are available either separately or as a single lot.

Meanwhile, agents Norths are seeking in the region of €535,000 for a fairly similar building occupied by jeweller John Farrington at 32 Drury Street.

The current rent of €33,000 per annum is subject to five yearly upwards-only reviews.