Thursday 19 October 2017

€285k ask for hospital suite

St Raphael's House.
St Raphael's House.
Peter Flanagan

Peter Flanagan

Colliers International is seeking €285,000 for Suite 2 St Raphael's House.

The property is a private consultation suite occupied by The Mater Private Hospital.

Colliers say that St Raphael's House comprises an "attractive period building that has been completely refurbished to the highest standard".

The property is described as being laid out to provide "a number of consultation rooms and the entire building has been sublet to The Mater Private Hospital".

St Raphael's House occupies a strategic location on Dorset Street, enjoying close proximity to The Mater Hospital, The Mater Private Hospital, Temple Street Children's Hospital and The Rotunda Hospital.

The property is held under a 20 year lease to the Mater Private Hospital from 2013, with a break option in year 10. The suite which is being put on the market is currently producing €20,714 per annum and the rent will be reviewed in 2021 in accordance with CPI.

The asking price equates to a net initial yield of 7pc after standard costs.

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