Monday 24 July 2017

Dublin event venue goes on the block asking €3.5m

DTZ is quoting €3.5m for 10 Ormonde Quay in Dublin.
DTZ is quoting €3.5m for 10 Ormonde Quay in Dublin.
Peter Flanagan

Peter Flanagan

DTZ Sherry Fitzgerald has been retained to secure a buyer for a unique property at 10 Ormonde Quay.

The property is currently a high end private function venue. It is also used as a film and photography location.

According to DTZ, the property has been restored with great sensitivity and authenticity and comprises exquisite period features and furniture throughout.

The building was originally commissioned as a townhouse for Robert Rochford, later to be Earl of Belvedere in 1745 and was immediately leased to the banker David La Touche. The original stone carved door-frame for the bank vault survives today in the basement.

Extending to 11,883 sq ft gross internal area, the four storey over basement property provides "wonderfully elegant and proportioned rooms to compliment the business use of the property," say DTZ.

A self-contained private residence with access to a roof top garden is located on the top floor. An elevator provides access to all floors.

The property is about 500 metres from O'Connell Street and 250 metres across the river from Temple Bar,

DTZ head of trading assets Kirsty Rothwell commented: "Rarely do properties of No.10's exceptional quality come to the market in Dublin City Centre, the discerning purchaser will certainly have a prized asset on their hands".

This is the second time in two years the property has come on the market.

In 2014, Davy Property Holdings paid a reported €2.8m for 10 Ormonde Quay, taking it as a going concern.

The venue's main dining room can cater for close to 70 guests and caters for between 20 and 30 wedding receptions per year.

The venue is routinely seen as one of the leading wedding venues in the capital and was named one of the top 10 "Intimate Wedding Venues" by "Social and Personal" magazine last year.

During the boom years, the property is said to have catered for as many as four or five events per week.

The hospitality market has been improving steadily in the recent years, with numerous businesses and organisations reviving or starting corporate events that would have been quickly cancelled after the 2008 crash.

The market for Georgian houses in particular has been strong in recent months.

Prices for some of them have risen by more than 50pc for good quality, well located, Georgians in the in the last four years to more than €300 per sq ft while some of the best of them can command more than €400 per sq ft.

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