Tuesday 16 October 2018

No 4 Castle St guiding at €1.15m

No 4 Castle St offers the purchaser a net initial yield of 6.41pc
No 4 Castle St offers the purchaser a net initial yield of 6.41pc
Ronald Quinlan

Ronald Quinlan

Joint agents Savills and Lisney are guiding a price of €1.15m for No 4, Castle Street, an impressive four-storey, over-basement Georgian office building located next to Dublin Castle and within 1km of both Grafton Street and Henry Street. The property is fully-let and delivering an annual rental income of €80,000, offering the prospective purchaser a net initial yield of 6.41pc.

No 4 Castle Street is a sensitively-restored Georgian office premises extending to 320 sq m (3,441 sq ft). The property retains many of its original features while providing contemporary office accommodation. The external façade is a traditional shop front dating back to the early 1900s which opens into an impressive and character-filled office building with substantial room proportions, high ceilings and tall sash windows

The property is leased in its entirety by 'The Social House Limited' for a term of 10 years from January 26, 2016 giving it an unexpired lease term of just under eight years.

Castle Street and its environs are acknowledged as the most historic area in Dublin city centre with numerous properties dating back to the medieval era. Dublin Castle lies adjacent to the subject property.

Commenting on No 4 Castle Street, Marguerite Boyle of joint sales agents, Savills, said: "This is a unique opportunity for any discerning purchaser to invest in a beautifully-restored period property located in the heart of Dublin's city centre whilst availing of strong returns".

Indo Business

Business Newsletter

Read the leading stories from the world of Business.

Also in Business