Investment Summary

High profile property located less than 130 metres from Grafton Street
Excellent long term investment opportunity with established tenants
Building comprises a four storey over basement mid terrace building extending to approximately 289.35 Sq.M / 3,115 Sq.Ft on a net internal area basis
Current passing rent is €103,100 per annum which has a weighted average unexpired lease term of 10.15 years
Passing rent is considered reversionary
Two leases, representing over 95% of the current rent, are set to be reviewed in February 2017
Long term, alternative uses may be considered on the two most upper floors, subject to planning permission

Tenure

We understand the property is held Freehold

Zoning

The property is an an area zoned Z5 'To consolidate and faciliate the development of the central area, and to identify, reinforce, and strengthen and protect its civic design, character, and integrity' under the current Dublin City Council Development Plan 2010-2017.

The property is not listed as a protected structure.

Asset Management

In the long term, the property may lend itself to alternative uses on the upper floors (subject to planning permission). In the short term, the 2017 rent reviews should offer a purchaser the opportunity to increase the rental income payable on the property.

Vat

We are advised that VAT is not applicable to this sale.

Price

Offers are being sought in excess of €1,900,000, representing an immediate net initial yield of 5.19%, allowing for purchaser's costs at 4.46%.

BER

BER: E2

BER No: 800505919

EPI: 1184.8 kwh/m2/yr