Monday 27 January 2020

DIT Faculty of Engineering on market for €2.2 million

Donal Buckley

Donal Buckley

A number of office, educational and commercial properties in Dublin city centre are being offered for sale or to let by recently formed estate agency Xavier McCaffrey.

The most valuable of these is DIT's Faculty of Engineering, DIT at 68-72 Capel Street, Dublin 1 which has a €2.2m. price tag.

Another is a four storey over basement retail premises at 21 Eden Quay which has a €500,000 price tag.

The Capel St premises is a relatively modern property with a 2,114sqm floor area incorporating a mix of offices, retail and industrial accommodation which is also available to let.

About 109sqm at ground floor would be suitable for retail use for which the quoted rent is €215 per sqm. The three upper floors in this building total almost 1,300 sqm at rents of €162 per sqm.

The warehouse section of the building extends to 721sqm and is available to rent at €108 per sqm.

Damien McCaffrey of Xavier McCaffrey says the property could suit a variety of uses including college, retail, business, manufacturing and gym/leisure operators, subject to planning permission. DIT are vacating the premises in June and plans to relocate to Grangegorman.

The agents are also seeking tenants for four retail units and two office units at the Royal Hibernian Way at Dawson Street and Duke Lane in the city centre.

The retail units range in size from 180 sq ft for which the quoted rent is €15,000 a year up to 812 sq ft for which the rent is €48,000 a year. Owned by F&C, the investment arm of Friends First, the mall is divided into 30 retail units.

Occupiers include, The Grafton Lounge, Monaghan's Menswear, Peaches & Cream, Jorgenson Fine Art, Danker Antiques, Swalk and Hibernian Dry Cleaners.

The offices on the first floor, of 50 Dawson St have recently been refurbished, come with secure basement parking and are available on flexible lease terms. The offices at 12 Duke Lane had been occupied by DAS Legal insurance company whose lease expired last month.

The premises at 21 Eden Quay is currently let to antiques retailer Car Boot showroom but would be available with vacant possession.

Antoine Xavier says that with its high profile overlooking the north quay route to the docklands, it would prove an attractive investment generating income from ground floor retail, as well as residential accommodation on the three upper floors although they would need refurbishment.

Prior to forming their new agency both Mr McCaffrey and Mr Xavier had worked with CBRE. Mr McCaffrey had also worked with Spain Courtney Doyle.

Indo Property

Also in Business