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18 Dame Street, Dublin 2

Investment Property (446.10 sqm) For Sale by Private Treaty
of

Price Offers in Excess of €1,900,000

Features

  • High profile mixed use investment property situated on Dame Street
  • Extending to approximately 446.1 sq.m (4,802 sq.ft)
  • Combined rent of €152,338 per annum
  • Weighted Average Unexpired Lease Term of approx. 9.00 years including nearest break options and 10.90 years to lease expiry
  • Tenants not affected by sale
  • Net initial yield of 7.29% with a vacant top floor

Location

No. 18 Dame Street is situated on the southern side of Dame Street close to its junction with South Great George’s Street, approx. 150m south of Essex Street East in the heart of Dublin’s tourism and cultural hub.

The street is a busy thoroughfare in Dublin city centre and carries large volumes of pedestrian and vehicular traffic. The property’s proximity to Dublin city centre provides for excellent transport links to include Dublin Bike Stations, Cross City Luas and numerous Dublin Bus Routes.

High-profile occupiers in the immediate area include, Spar, AIB Bank, City Hall and the Olympia Theatre.

Full Description

The property comprises a five storey over basement mid terraced mixed-use building with a traditional timber framed shop front fronting onto Dame Street.

The ground floor is in restaurant use which is supported by kitchen and storage facilities at basement level. The upper floors provide for independent access off Dame Street and provide office accommodation. Note: The vacant fourth floor historically provided residential accommodation. The rear of the ground floor restaurant benefits from direct access off Dame Lane.

 

Zoning 

The property is zoned Z5 City Centre “To consolidate and facilitate the development of the central area, and to identify, reinforce, strengthen and protect its civic design character and dignity” under the Dublin City Development Plan 2016 – 2022.

 

Tenure

We understand the property is Freehold via a Fee Farm Grant dating from 1897.

 

Price

Offers are sought in excess of €1,900,000, which equates to a net initial yield of 7.29% with a vacant top floor.

Viewing Details

By special appointment with the sole letting agent, Lisney.

Accommodation

    Floor

    Sq.m (Approx NIA)

    Tenant

    Lease Start

    Term Years

    Break Option

    Rent per annum

    Ground

    Basement

    112.5

    65.5

    Manakamana Trading Limited t/a Kathmandu Kitchen

    17/05/2011

    20

    N/A

    €95,000

    First Floor

    99.9

    Scott Murphy Chartered Building Surveyors Ltd

    18/12/2018

    10

    18/12/2023 (T)

    €26,338

    Second

    Third

    58.4

    57.5

    Individual t/a City Therapy

    *With Solicitors

    10

    At expiry of Year 5 (T)

    €31,000

    Fourth

    52.3

    Vacant

    Vacant

    N/a

    N/A

    N/A

    TOTAL

    446.1

     

     

     

     

    €152,338

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

BER Details

BER: D1-G

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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