A RETAIL building opposite the Ilac Centre on Dublin’s Mary Street and rented by mobile phone operator 02 has been sold off-market for €4.75 million. The purchaser, a private investor, will earn a return of 5 per cent.

The building, owned for many years by Hibernian, produces rents of around €260,000. The lease has another 15 years to run.

The property has 185sq m (2,000sq ft), including 46.45sq m (500sq ft) at street level. It is a particularly well located building between MS and Golden Discs, and opposite the new River Island store planned for the entrance to the Ilac Centre.

Michael Clarke of Savills handled the sale for Hibernian while Finnegan Menton acted for the purchaser