Saturday 21 April 2018

Fitzwilliam Sq building exceeds guide

SOLD: 29 & 30 Fitzwilliam Square.
SOLD: 29 & 30 Fitzwilliam Square.
Peter Flanagan

Peter Flanagan

A key investment property in the centre of south Dublin has been sold for more than €1m above its guide price.

Ganly Walters acted as agents for the sale of 29 and 30 Fitzwilliam Square, which are two interconnecting Georgian buildings let to a single occupier on a short lease.

The property was on the market with a list price of some €2.6m but the final sale price is believed to have been in excess of €3.5m.

The property is currently producing a rent roll of around €150,000 per annum.

Ganly Walters said more than 10 bids had been submitted for the property, which was sold under a "best bids" process.

The 9,000 square foot property is a double Georgian listed office building with four interconnecting floors over full basement level accessed by two separate main stairwells.

The main entrance hall has wooden flooring which extends to the lobby and reception area. All rooms have a good floor to ceiling height although the third floor does have a mansard roof, which offers less.

There is a two-storey over basement mews to the rear of the property and a large concreted yard currently part used for parking which is accessed by both Fitzwilliam Court and Kingram Place.

Currently in office use throughout, the property is seen as being particularly suitable as a corporate headquarters or could be converted back into an imposing home or embassy.

Internally, the property is a mix of large and medium size offices currently laid out in classroom style.

There is a fully fitted kitchen/canteen on the basement floor, with washroom and bathroom facilities throughout.

The property was held by Derek Quinlan before being taken over by NAMA a number of years ago. NAMA put the offices on the market three years ago.

Sunday Indo Business

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