Keane Thompson introduce this superb mixed used investment opportunity For…
Dublin 2, Leinster, Ireland
For sale by Keane Thompson Estate Agents via the iamsold Bidding Platform
Please note this property will be offered by online auction (unless sold prior). For auction date and time please visit iamsold.ie. Vendors may decide to accept pre-auction bids so please register your interest with us to avoid disappointment.
KEANE THOMPSON introduce this substantial and imposing five storey over basement Georgian building positioned in a most prime City Centre location. Rarely do properties of this stature and location come to the market and this property is sure to attract considerable interest from both home and abroad. Westmoreland street is the primary pedestrian route linking the retail hubs of both Grafton Street and O Connell Street, benefiting from huge numbers of passing customer footfall as they travel to St Stephens Green, Ilac and Jervis Shopping Centre.
The property expands to a generous c.654 sq.m (GIA) and is laid out in spacious and well-proportioned accommodation. Currently comprising of basement, ground floor retail & first floor retail with the upper four floors providing a selection of large open plan and smaller office rooms. This impressive property is presented in good order throughout and has retained some of its original features including high ceilings and sash windows which are synonymous with properties of this calibre.
Currently fully let and producing €190,000 per annum, this property will appeal to investors seeking a substantial property with a superb return and potential for significant increased capital appreciation in one of the most sought-after prime locations in Dublin City Centre.
The convenience of this location cannot be overstated. Westmoreland street adjoins College Green, home to prolific and international retailers H&M, American Apparel and Abercrombie & Fitch. Temple Bar, a Dublin tourist destination is located just around the corner with numerous cafes, bars, and restaurants. There is an abundance of public transport options available to the area with the Westmoreland Street LUAS stop just outside building, many bus routes passing by the premises and Tara Street DART station a five-minute walk away.
Accommodation c. 654 sq.m (7,023.6 sq.ft) GIA
Please refer to floor plans for room dimensions
Schedule of Areas:
Retail c.237 .sq.m (GIA):
Currently let to Good World Chinese and laid out as restaurant, as follows:
Basement: c.83 sq.m
Fully fitted kitchen with cold rooms, WCs.
Ground Floor: c.99 sq.m
Laid out as fully fitted restaurant.
Mezzanine: 55 c.sq.m
Restaurant dining area.
Offices c. 353 sq.m (GIA):
Currently let to English Hour, as follows;
1st Floor: c.115 sq.m
Reception area, open to large open plan office, male & female WCs, carpet flooring.
2nd Floor: c.71 sq.m
3rd Floor: c.71 sq.m
Two large spacious rooms to front and rear, carpet flooring.
Top Floor: c. 68 sq.m
Two large spacious rooms to front and rear, carpet flooring, bathroom, leading to top floor kitchenette.
Good World Chinese: current rent roll €100,000, 20-year lease with 5 yearly reviews from October 2019.
Upper floor offices:
English Hour: Current rent roll €90,000, 15-year lease with 5 yearly reviews from July 2019.
Features / Services
Potential for substantial increased capital appreciation.
Impressive property located one of Dublins most sought after locations.
Prime city centre location, walking distance from Dublins principle places of business.
Walking distance to Grafton Street, St. Stephen’s Green, Harcourt Street, Trinity college and all amenities Dublin’s city centre has to offer.
Luas stop outside front of building.
Current rent roll €190,000 per annum.
By appointment only.
Auctioneers Comments: This property is offered for sale by unconditional auction. The successful bidder is required to pay a 10% deposit and contracts are signed immediately on acceptance of a bid. Please note this property is subject to an undisclosed reserve price. Terms and conditions apply to this sale.