Friday 17 November 2017

€1.6m asking price for Dawson St premises

A prime Dublin city centre investment opportunity is being offered for sale with a €1.6m price tag. Quinn Agnew are the agents for the sale of 20 Dawson St, Dublin 2, which is let to Savills estate agents on a 25-year lease from February 2000 at a current rent of €141,300. That suggests a gross yield of over 8.8pc.

The vendor, a private investor, bought it in 2002 for around €2.6m. Savills had used it as their city centre residential branch and split the ground floor reception area to make the basement and a mezzanine area easily accessible for customers. Savills have now relocated this service to their Molesworth St head office and are seeking to assign or sublet the Dawson St premises .

Consequently itmay present an opportunity for an owner-occupier on a street which has been transformed from an insurers' mecca companies into a popular entertainment and tourist strip linking Trinity College and Stephen's Green, Leinster House and Grafton St..

Irish Independent

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