Monday 21 August 2017

€1.7m for fully let D4 Georgian building

Ronald Quinlan

Ronald Quinlan

Ollie Lyons of agents TWM is quoting in excess of €1.7m for 4 Upper Baggot Street, an attractive single-let investment in the heart of Dublin 4.

Permanent TSB occupy the building on a 35-year lease from April 1 1990, providing investors with an eight-year term certain. The investment has an open market rent review in April 2020 and a rent of €102,500 per annum, offering the buyer a net initial yield of 5.75pc (assuming standard purchaser costs of 4.46pc). Number 4 is an impressive Georgian building with excellent profile onto Upper Baggot Street. The three-storey-over-basement building is laid out for retail banking at ground floor, while the basement, first and second floors are in storage and office use.

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