Thursday 19 July 2018

20 Molesworth St guiding at €2.35m

No 20 Molesworth St offers the prospect of a 6.58pc return
No 20 Molesworth St offers the prospect of a 6.58pc return
Ronald Quinlan

Ronald Quinlan

Joint agents Savills and Lisney are guiding a price of €2.35m for No 20 Molesworth Street, a Georgian investment property located in the heart of Dublin 2.

The property comprises a double-fronted, mid-terraced, four-storey, over-basement period building extending to 4,710 sq ft. The building is leased predominantly on short-term licence agreements with the exception of Gorry Gallery, who are in occupation of their demise under a long lease.

Based on its current income of €167,695 per annum and its guide price of €2.35m, the property offers the prospect of a 6.58pc return after standard purchaser's costs.

No 20 Molesworth Street is bright and well-proportioned and retains much of its period charm and character. The property comes with numerous original features including high ceilings, cornicing and a sweeping staircase.

The building is located adjacent to Leinster House. The surrounding area meanwhile has seen the recent addition of a number of large-scale office developments by both Green Reit and Iput.

Marguerite Boyle of Savills says: "This attractive investment offers the purchaser an opportunity to capitalise on the re-positioning of Molesworth Street as a premier office location.

"This highly accessible location has been further strengthened by the recent opening of the Luas Green Line extension, with a stop just a couple of minutes stroll away, on Dawson Street".

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