D2 Georgian offices are sold for €900,000
Dublin's Georgian office market has received a fillip with news that 1 Mount St Crescent, Dublin 2, has been sold for €900,000.
The three storey over basement property came with a mews and offered a total of 306.37sqm of accommodation.
Located at the start of one of Dublin's few crescent shaped terraces, the 251sqm main Georgian house faces onto the Pepper Canister Church and is close to The Grand Canal, Leinster House, Fine Gael's headquarters and Government buildings.
The mews, which measures 55.3sqm, faces onto Stephen's Lane where the famous Dobbin's restaurant is located.
The agents Knight Frank had been asking €1m when they brought it to the market on behalf of a charity last October.
They received the offer in December.
The accommodation is laid out in a typical Georgian style with a mix of interconnecting rooms and spacious offices/ boardrooms. Many of the original features have been retained including the plasterwork and fireplaces.
At present a number of Georgian buildings including some on Merrion Square are on the market.
This price of €2,937 per sqm will give buyers some guidance as to price trends in the current market.
Jane Dolan, of Knight Frank, who negotiated the deal on behalf of the vendor, says most of the prospective buyers were interested in restoring it to residential use while about 40pc were enquiring for commercial use.
"A huge selling point of the property was the control of the entire site as this property has the mews to the rear and a long garden.
"Most enquiries for the property were from cash buyers," Ms Dolan says.
"The sales market is stronger than the lettings market for Georgians. However Georgians that are in walk in condition, located on a good street or square and on new flexible lease terms are letting," she adds.