IPUT plc is pleased to announce that luxury retail brand, The White Company, have leased 800 sq m (8,527 sq ft) of high quality retail space over three floors at Seventy-Two Grafton Street, Dublin 2 on a long-term lease.
Seventy-Two Grafton Street was acquired by IPUT in 2014 for € 12.5 million and the building was thoughtfully restored and reconfigured to highlight the stunning curved-vaulted ceiling at first-floor level while restoration works have been carried out on the external façade to protect the rich heritage of the building.
IPUT’s Head of Investment, Michael Clarke, said: “Seventy-Two Grafton Street has been extensively refurbished and redesigned, at a cost of €2m, to meet the demands of leading international retailers. This project is part of our strategy to regenerate our portfolio and create value for investors. The repositioned asset will generate an income yield on cost of c. 5.5% and a profit on cost of 30%.”