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Maryland House, 20-21 South William Street

Investment Property (1,414.3 sqm) Sale Agreed
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Sale Agreed

Features

  • Prominent five storey over basement terraced building on the west side of South William Street
  • Located in the heart of Dublin’s retail and leisure core within the Creative Quarter
  • 100% occupied with over 90% of the passing rent coming from AA Ireland
  • Held under four leases with a current passing rent of €611,730 per annum and a WAULT of 5.9 years
  • Net internal area of 1,414.3 SqM (15,224 SqFt) with 22 car parking spaces at surface and basement level
  • Future development potential (subject to planning permission and vacant possession)
  • Offers are sought in excess of €9,000,000 which represents a net initial yield of 6.27% after allowing for standard acquisition costs at 8.46%.

Location

The original development of South William Street took place in 1685 as a residential area. In the 1970s, both South William Street and Drury Street became synonymous with clothing wholesale and some manufacturing. Today these streets and the surrounds have been branded Dublin’s Creative Quarter and are home to a mix of shops,businesses, galleries, restaurants, bars, studios and boutiques.

South William Street runs parallel to Grafton Street and experiences high volumes of footfall and vehicular traffic. Maryland House is located on the west side of South William Street close to its junction with Castle Market.

The immediate area has a wide offering of retail shops, cafes and restaurants with office and ancillary uses overhead. The Powerscourt Townhouse Centre is less than 50 metres from the subject property. Other notable occupiers in the immediate area include Sole Seafood & Grill, The South William Bar, Benefit Cosmetics, Grogans, Farrier and Draper and Clement and Pekoe.

Full Description

The subject property comprises a four storey over basement mid-terraced building with retail use at ground, car parking on the surface and at basement levels and office use in the rest of the building. The building is constructed with a reinforced concrete frame incorporating concrete floors, upvc double glazed windows throughout the upper floors and timber frame shop fronts at ground floor level.

 

- Concrete construction

- Double glazed windows

- Suspended grid ceilings and tile ceiling systems

- One passenger lift serving all floors including the basement

- Air conditioning to office areas

Viewing Details

By Appointment

Accommodation

    Floor Net Internal Area SqM Net Internal Area SqFt IPMS 3 (Office) Area SqM IPMS 3 (Office) Area SqFt
    4th Floor 233.9 2,518 350.2 3,770
    3rd Floor 357 3,843 361.4 3,890
    2nd Floor 359.7 3,872 364.8 3,927
    1st Floor 359.9 3,874 364.9 3,928
    Ground (Sth William St) 33.5 361    
    Ground (Drury St) 45 484    
    Mezzanine (Drury St) 25.3 272    
    Total 1,414.30 15,224 1,441.30 15,515

BER Details

BER: D2

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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