6 – 7 St Stephen’s Green – one of Dublin’s finest properties – has been placed on the market to purchase or lease via property advisors, Savills Ireland and BNP Paribas Real Estate.

The entire landmark property is available to purchase for €17.5m. It extends to 2,482 sq m (26,716 sq ft) – with three floors in retail use and three floors of self-contained offices overhead.

Alternatively, the retail element of the property – at ground, lower ground and first floor level – is available to lease for €875,000 per annum. It extends to 2,069 sq. m (22,271 sq. ft) and recently served as Topshop’s flagship outlet in Ireland.

The overhead offices are independently accessed from St Stephen’s Green and provide 412 sq.m (4,434 sq ft) of period accommodation with views over St Stephen’s Green. The second floor is currently vacant and the third and fourth floors are income producing. They are let to Cundall (Ireland) Ltd on a short-term lease which expires in August 2024 at an annual rent of €89,373 per annum.

The building was originally constructed in 1870 for the famous Dublin wine merchants and grocers, Robert Smyth & Co. The elevation of the building – with its many elaborate stone carvings – still retain the initials ‘RS’.

The building last sold in 2005 and was acquired the Bank of Ireland Staff Pension Fund from a consortium, which included members of the rock band, U2. It was then converted from the Galleria Shopping Centre to house Ireland’s first Habitat store.

Stephen McCarthy of Savills Ireland commented:

“The building is steeped in history and is an icon of St. Stephens Green and the Grafton Street district. This is a rare opportunity to lease or purchase a flagship building which we are sure will appeal to a host of occupiers and investors given the calibre of location and use potential”

Eoin Feeney of BNP Paribas Real Estate commented:

“The existing retail floors, subject to planning, offers the potential for conversion to restaurant or leisure use, sub sectors where occupier demand is strong. Whatever the end use, an investor would be looking at significant future rental growth potential as Dublin city centre continues to be undersupplied in terms of large floorplate retail buildings.”