Paddy Kelly asks €1.25m for Baggot St premises
Developer Paddy Kelly is selling a Georgian property let in offices at 123 Lower Baggot St, Dublin 2, with the co-operation of the mortgagor bank. Space Property Consultants, are quoting €1.25m for the four-storey period property, which extends to 403sqm. It was bought in 1999 for a euro equivalent of €1.43m.
The property is almost fully occupied and generates a €77,000 a year rent roll. There are a number of short term flexible leases in place with only the garden level in occupation under a long term lease to a commercial tenant.
Barra McCabe of Space says the flexibility of the leases offers an owner of a small firm the chance to take partial occupation and benefit from rental income.