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13 Parliament Street, Dublin 2, D02 P658

Investment Property For Sale by Private Treaty
of

Price Offers in Excess of €2,300,000

Features

  • High profile mixed use investment situated on Parliament Street at the centre of Dublins cultural thoroughfare, Temple Bar
  • Net internal area of approximately 310 sq.m (3340 sq.ft)
  • Generating a rental income of €147,500 per annum
  • Tenants PBR Restaurants Ltd, Belong to Youth & Pixel Design
  • Tenants no affected by the sale
  • Immediate net initial yield of 5.91%
  • Weighted Average Unexpired Lease Term 10.43 years

Location

13 Parliament Street is situated approximately 25m south of Essex Street East in the heart of Dublin’s tourism and cultural hub, Temple Bar.

The immediate area is predominantly restaurant use at street level with overhead office and residential accommodation. Occupiers in the immediate area include the Turks Head, The Porterhouse, Beef and Lobster, The Clarence Hotel and the Gaiety School of Acting.

Temple Bar is one of Dublin city centres most south after restaurant and leisure locations and experiences high volumes of footfall and vehicular traffic.

The properties close proximity to Dublin city centre provides for excellent transport links.

Full Description

The property comrpises a five storye over basement mid terraced mixed use building with a traditional timber framed shop fronting onto Parliament Street.

The ground floor benefits from approximately 5.4m of frontage onto Parliament Street and restaruant use which is supported by kitchen and storage space at basement level. The upper floors provide for independent access off Parliament Street and are entirely in office use. There is access to Crane Lane to the rear of the ground floor.

The property throughout is in excellent condition with a substantial level of CapEx spent on the property in 2008/2009. 

 

Lease Details

 

Tenant Floor Lease Start Term Years Break Option Date Rent Per Annum
PRB Restaurants Ltd Ground & Basement 15/02/2016 20

-

€72,500
Belong to Youth  First, Second & Fourth 16/11/2017 10 16/11/2022 €55,000
Pixel Design Third 01/02/2018 5 01/02/2021 €20,000
Total          €147,500

Viewing Details

By special appointment with the sole letting agent, Lisney.

Accommodation

    The approximate Net Internal Areas (NIA) are as follows:

     

    Floor Sq.m Sq.Ft
    Basement  34.78 352
    Ground  64.47 694
    First 55.37 596
    Second 53.32 574
    Third 51.47 554
    Fourth 50.96 548
    Total 310.37 3,340

    * All intending purchasers are specifically advised to verify all floor areas and undertake their own due dilligence.

BER Details

BER: Exempt

Contact Details

Address: St Stephen's Green House, Earlsfort Terrace, Dublin 2
Telephone: +353-1-638 2700 or you can also email us at dublin@lisney.com

Lisney for themselves and the Vendor/Lessor whose Agents they are give notice that:

1. These particulars do not constitute any part of an offer or contract.

2. All statements contained in these particulars as to this property are made without responsibility on the part of the Agents or the Vendor/Lessor and none of the statements contained in these particulars as to this property are to be relied on as statements or representations of fact.

3. The particulars, various plans, photographs, dimensions, references to condition and permissions for use and occupation  are given in good faith and are believed to be correct but their accuracy is not guaranteed and any intending Purchasers or Tenants shall satisfy themselves by inspection or otherwise as to correctness of each of them. No omission, accidental error or misdescription shall be ground for a claim for compensation or for the rescission of the contract by either the Vendor/Lessor or the Purchaser/Tenant.

  4. Neither the Vendor/Lessor nor Lisney nor any person in their employment has any authority to make or give any representation or warranty whatever in relation to the property. 5. Prices are quoted exclusive of VAT (unless otherwise stated) and all negotiations are conducted on the basis that the Purchaser/Tenant shall be liable for any VAT arising on the transaction. PSRA No. 001848.

Please note we have not tested any apparatus, fixtures, fittings, or services. Interested parties must undertake their own investigation into the working order of these items. All measurements are approximate and photographs provided for guidance only.

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