A private investor has paid in excess of the asking price of €2.6 million for a four-storey over basement investment property on Fitzwilliam Square, Dublin 2. The property came to the market last October, and according to selling agent BDM Property, the sale has just closed. The sale of the four-storey property, which is in the heart of the city’s traditional central business district, also includes a three-bed rear mews, which comes with the benefit of two-three car parking spaces. 16 Fitzwilliam Square extends to 368sq m (3,960sq ft), and is let in its entirety on a new 20-year lease with a stepped annual rent of €125,000, increasing to €140,000 in year three.The building is presented in very good condition throughout, and has been upgraded to a very high specification. The building retains many of its original period features. The mews, which extends to 72sq m (770sq ft), is let on a two-year licence at an annual rent of €27,000. BDM was guiding €2 million for the main building, offering the prospective purchaser a net initial yield of 6.36 per cent or €2.6 million for the entire, which equates to a net initial yield of 5.84 per cent.Fitzwilliam Square is home to a variety of businesses, but there are still some residents on the historic square. Earlier this year No 25, one of the few buildings on the street that has been maintained as a private residence since it was constructed, came to market seeking €2.75 million.