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Merrion Portfolio

   

Location

12 Merrion Court holds a prestigious location off Merrion Row, next to St Stephens Green in the heart of Dublin’s Central Business District. The property is surrounded by numerous landmark properties including the National Concert Hall, Mansion House, Government Buildings and Shelbourne Hotel. Merrion Row benefits from high levels of pedestrian and vehicular traffic as a result of its prime location and route joining Baggot Street Lower & Merrion Street Upper.

The surrounding vicinity is home to a number of high profile corporate occupiers which include: Maples & Calder, Davy, Arthur Cox, Aviva, Deloitte, ESB International, KPMG, The Royal College of Surgeons as well as numerous Government departments.

The immediate area is renowned for its impressive list of restaurants and bars including O’Donoghue’s, Doheny & Nesbitt’s, Bang Restaurant, Ely Wine Bar, Pearl Brasserie, Restaurant Patrick Guilbaud and The Cliff Townhouse. Merrion Row is a destination for daytime and evening dining making it a vibrant and energetic street.

The area is extremely well served by public transport with Dublin Bus and Luas Green line services located at St. Stephen’s Green. There are numerous taxi ranks and multi storey car parks in the area.

Description 

12 Merrion Row is a two storey building of traditional construction with a pitched timber framed roof. Restaurant, kitchens and washrooms are located at ground level. The restaurant benefits from covered outdoor seating along Merrion Court.

The first floor comprises 3 no. 1 bed apartments and 2 no. studio apartments. The residential units are accessed by two entrance stairwells located at either end of the restaurant. The apartments are each fitted to a similar standard with kitchens, electric showers, plastered and painted walls, timber flooring, electric storage heating, single glazed timber frames windows and velux windows fitted into the roof.

                

Tenancy

COMMERCIAL
The ground floor of the property is let to Petrolo Limited trading as Unicorn Restaurant on a new 4 year and 9 month lease from 03 June 2013. The passing contracted rent is €200,000 per annum.

RESIDENTIAL
The apartments are let under standard residential tenancy agreements, typically short term for a fixed 12 month period.

The residential investment is currently producing a gross income of €44,000 per annum.

For the avoidance of doubt please note that this is an investment sale and the tenants are not affected.