Former men’s store Best sold to private investor for €1.7m

A private investor has paid in excess of €1.7 million for the former Best men's fashion store, now leased to Paddy Wagon Ltd, at the junction of O'Connell Street and |North Earl Street in Dublin 1.

Stephen McCarthy of Savills had originally quoted in excess of €1.1 million for the four storey over basement building which extends to 331sq m (3,561sq ft). The current tenant is paying a rent of €86,000 under a 20-year lease from 2015 with a break option in year 10. The new owner, who was advised by Paul McElearney of QRE, will get a return of around 5 per cent on his investment.