The buildings on the pedestrianised street in Dublin 2 are redbrick, two-storey commercial properties built in the 1890s. Most units front onto Castle Market with some buildings having particularly valuable frontage onto to South William Street and Drury Street. The properties are currently used for a variety of food and restaurant purposes, housing wellknown names such as Cooke's Restaurant, Helen McAlinden Design and Interiors and La Maison De Gourmet. Many traders in the area use outdoor seating, adding to the street's unique atmosphere.

In retail location terms, Castle Market's position could hardly be better. It connects Drury Street and South William Street, while Grafton Street, Ireland's premier retail thoroughfare, is just 100 metres away. Other adjacent landmarks include the Powerscourt Townhouse, St Stephens Green shopping centre and the proposed H&M department store on South King Street.

The current rental income from the portfolio is in excess of 700,000 per annum. However, with four rent reviews due in 2007 alone, joint agents Bogle Estates and DAVIN Chartered Surveyors advise that the estimated rental value (ERV) is in excess of 1m per annum. The current owners of the portfolio, Ellier Developments, have increased rental income by over 130% since they first acquired the property four years ago. Ben Pearson and Peter Browne from the joint selling agents regard this as "an outstanding portfolio performance which proves its quality and potential".

The Castle Market portfolio is for sale by public tender on Tuesday 15 May and the selling agents expect bids to be in excess of 28m.

Based on the ERV the agents advise that this figure equates to a yield of approximately 3.2%.

This compares favourably with the recent sale of the various retail bank properties throughout Dublin city centre. The agents anticipate interest from high net worth individuals and various consortia of investors who would seek to continue the excellent rental growth and portfolio performance enjoyed in the past five years. For further information contact Bogle Estates on 01-845 2500 or Davin Chartered Surveyors on 01-678 0400.