Tuesday 21 November 2017

High-profile Georgian building at heart of Dublin's central business district has €2.65m price tag

No 33 Fitzwilliam Place and its rear mews, 33 Leeson Close, offer a combined 7,000 sq ft of space in the heart of Dublin city’s Georgian core
No 33 Fitzwilliam Place and its rear mews, 33 Leeson Close, offer a combined 7,000 sq ft of space in the heart of Dublin city’s Georgian core
Ronald Quinlan

Ronald Quinlan

Agents Colliers International are seeking €2.65m for a high-profile Georgian building and its accompanying rear mews at the heart of Dublin's central business district.

No 33 Fitzwilliam Place and 33 Leeson Close are being offered for sale in one lot and offer the prospective purchaser a combined space of nearly 7,000 sq ft in one of the city's most sought-after locations.

The principal property extends to 4,824 sq ft and occupies a prominent position on the south west side of Fitzwilliam Place which connects Fitzwilliam Square and Lower Leeson Street. A short walk from St Stephen's Green, the building has been fully restored to its original Georgian grandeur.

It also offers all the functionality and specifications expected of a contemporary office, according to Paul Finucane of Colliers International.

The building is being marketed with the benefit of full vacant possession.

The rear mews, which fronts onto Leeson Close, comprises a two-storey original Georgian Coach House extending to 2,034 sq ft.

The property which comes with its own rear, south-facing garden is leased under a 25-year full repairing and insuring (FRI) lease which expires in April 2021.

Passing rent is currently €27,000 per annum. The house is two doors down from the internationally-renowned Sam Stephenson-designed mews 'Number 31' Leeson Close.

Paul Finucane says he expects considerable interest in the property from both owner occupiers and investors based on the quality of the asset, the development potential of the mews, and the recent resurgence in rental levels achieved for fully and comprehensively-refurbished Georgian buildings.

Colliers have a long-standing record in the sale of properties in Dublin's Georgian core. Only recently, divisional director of investment and development Robert Bielenberg completed the sale of Number 45 Mount Street Upper to an overseas investor for €2m - a premium of €200,000 on the €1.8m Colliers had been guiding for the property.

The sale of Number 45 came just months after another Dublin-based agency saw its efforts to sell the Georgian period building to another party fall through. It is understood the agency in question had the property sale agreed for a price below the €2m figure achieved by Colliers, only to see the buyer withdraw, after deciding to acquire a different building on the same street.

No 45 Mount Street Upper comprises a net internal area of 391 sq m (4,210 sq ft) with three car parking spaces to the rear. Described by Colliers as "a fine Georgian building in immaculate condition throughout", the building is currently in office use and fully-vacant.

Located on the south side of Mount Street Upper, which links Merrion Square with Herbert Place and the Grand Canal, it is within a 10-minute walk of St Stephen's Green and Grafton Street.

Sunday Independent

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