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75 Merrion Square, Dublin 2

Investment Property (504.65 sqm) Sold
of

Sold

Features

  • Prestigious four storey over basement mid-terrace period building extending to 505 sq. m (5,432 sq. ft)NIA.
  • For sale with the benefit of a ten year lease of the entire from September 2016.
  • 12 car parking spaces to the rear accessed from Fitzwilliam Lane.
  • Recently refurbished to a very high standard.
  • Beautifully proportioned rooms with excellent natural light.
  • Very attractive period features throughout together with the benefit of modernised office features including a passenger lift serving all floors.
  • Superbly located within close proximity to all city-centre amenities and public transport infrastructure.
  • Passing rent of €249,760 per annum.
  • Guide price of €3,950,000 representing a net initial yield of 5.83% after allowing for standard acquisition costs.

Location

75 Merrion Square is an attractive Georgian office building conveniently located on the south side of Merrion Square. Merrion Square is a much sought after location in Dublin’s central business district. The property has a prime position overlooking the square.

This prestigious location is within easy walking distance of a range of transport links including Pearse DART station and the Luas (green line) stops at Dawson Street and St Stephen’s Green.  Numerous bus routes are available close to the property providing convenient access to all locations. The Aircoach, which provides access to Dublin airport, has a stop located on the north side of Merrion Square. The property is within easy reach of some of Dublin’s leading leisure, retail and corporate locations and the surrounding area benefits from a wide range of restaurants, cafes, banks, pubs and hotels. Notable occupants nearby include Dail Eireann, Leinster House, the 5* Merrion Hotel, the Natural History Museum, and the National Gallery of Ireland.

Full Description

The property retains many of its original features including detailed cornicing, ceiling roses and marble fire places together with the benefit of modernised office features including a passenger lift serving all floors. The building also benefits from shower facilities which are an increasingly common requirement from corporate occupiers in today’s market. The accommodation presents in excellent condition and is laid out in a combination of various sized offices with two very large, impressive rooms on the ground floor. There are 12 car parking spaces to the rear of the property accessed from Fitzwilliam Lane.

Tenanacy Information

The entire property is let to E-nasc Eireann Teoranta under a 10 year lease from 07 September 2016. The current passing rent is €249,760 per annum. The tenant is unaffected by the sale. The rent is subject to review after 5 years to open market rental value. The tenant has the option to determine the lease on the expiry of the fifth year of the term subject to a 12 months prior written notice. The tenant has signed a Deed of Renunciation. E-nasc Eireann Teoranta  was founded in 2000. The company has maximum Vision Net credit score of  100 and is categorised as  low trade risk.

Tenure

We understand the property is held Freehold.

Zoning

The property is in a conservation area zoned Z8 ‘protect the existing architectural and civic design character, and to allow only for limited expansion consistent with the conservation objective’ under the current Dublin City Council Development Plan 2016-2022. The building is listed as a protected structure.

 

 

 

 

Viewing Details

By appointment only with joint agents Lisney and Savills.

Accommodation

    Floor Sq.m Sq.ft
    Third Floor 87.36 940
    Second Floor 91.32 983
    First Floor 111.88 1,204
    Ground Floor 112.87 1,215
    Basement 101.22 1,090
    Total 504.65 5,432

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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