Thursday 14 November 2019

€1.1m guide for four-storey Dublin 2 Georgian building

A Georgian building on a 0.2 acre site at 5 Fitzwilliam Square, Dublin 2, is being offered for sale with a €1.1m guide price. Partly let in offices, the terraced property generates a rental income of €98,000 a year. The building is in good condition and extends to 658sqm with four floors over ground and basement.

Evan Ryan of agents CB Richard Ellis, says there is an opportunity for investors to increase the return on the property as part of the basement and the first floor office suites are currently vacant. Its rear has a large surface car park accessed from Lad Lane, Dublin 2, and this underdeveloped area offers potential for a significant office or residential mews development.

Well presented, the building has been upgraded over the years and includes lift access to the office accommodation. Currently it has five tenancies, which are not affected by the sale and the top floor is let as an apartment.

"It is estimated that the total potential rent roll, if fully let, would be in the order of €120,000 per annum," Mr Ryan adds.

It has been brought to the market as an investment opportunity on the instructions of Kieran Wallace and Eamonn Richardson, joint receivers from KPMG.

Indo Property

Also in Business