Wednesday 17 January 2018

Two period office properties for sale

16 Pembroke Street Upper, Dublin 2, is on the market
16 Pembroke Street Upper, Dublin 2, is on the market

Two period office buildings with investment potential in Dublin's central business district are for sale at prices ranging from €525,000.

The largest of them is 23 Earlsfort Terrace, Dublin 2, a Victorian property extending to 290sqm. It includes five floors of offices along with a duplex apartment to the rear. Agents GVA Donal O Buachalla is quoting €610,000 for them.

While the upper floors are in good condition the basement and the apartment require upgrading.

The second property is 16 Pembroke Street Upper, on the high-profile corner of Leeson Street Lower and Pembroke Street Upper. It extends to 190sqm and comprises a four-storey over-basement Georgian property currently in office use and in good condition throughout.

The upper floors are let on a short-term lease producing €29,400 a year. The ground floor and basement floors can be offered with vacant possession or a short-term lease can be agreed upon with the current occupier.

Lisa McInerney of GVA says both properties offer attractive asset management opportunities with potential to increase the rent roll.

Irish Independent

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