Price Guide price €2,200,000
The subject property is strategically and pivotally situated on the junction of Rathgar Road, Rathgar Avenue, Highfield Road and Orwell Road in the well established affluent south suburb of Rathgar village.Rathgar is a well located south Dublin suburb which links Rathmines and Dublin City Centre to Terenure and Rathfarnham.
Surrounding occupiers are principally commercial in nature comprising numerous complementary restaurants, shops and licensed premises. There is also a large residential populace within the district. Nearby occupiers include SuperValu, O’Briens Off-License, Bijou Bistro and Lloyds Pharmacy.
The ground floor comprises a licensed premises trading as ‘The 108’ with open plan seating area, bar, kitchen and male & female toilets. The basement provides for security room and cellar storage. Pedestrian access is provided off Rathgar Avenue / Rathgar Road to serve the public house.
The upper floors benefit from independent access off Rathgar Road and are in residential use comprising four spacious one-bedroom apartment units with private balconies at first and second floor level as well as a communal roof terrace at third floor level.
The property was constructed in 2010 and includes sustainable features including solar panels and rainwater harvester.
The ground floor and basement licensed premises is leased to Pizza Eile Limited (t/a The 108) on a 10 year lease from November 2014 with approx. 4 years unexpired lease term at a passing rent of €75,000 per annum. The tenant has signed a Deed of Renunciation.
The tenant company operates under the Galway Bay Brewing Brand which has been operational for in excess 10 years and operates 11 premises in Dublin, Belfast and Galway.
The four apartments on the upper floors are leased on standard one-year leases at rents of €1,500 to €1,562 per calendar month. The annual rental income from the apartments is €72,744.
Total rental income for the entire equates to €147,744 per annum.
Tenants not affected.
Video ToursThe 108 Premises: https://youtu.be/DVF-1oR222s
Apartment 1: https://youtu.be/2SpKAdYhlQs
Apartment 2: https://youtu.be/WvghxUp3BOY
Apartment 3: https://youtu.be/a8tLXBO9x7M
Apartment 4: https://youtu.be/8ba8TjUpA3Y
By special appointment with the sole letting agent, Lisney.
GIA Sq. m
|Ground Floor - Licensed Premises
|Basement - Dry Goods & Cold Room
Address: St Stephen's Green House, Earlsfort Terrace, Dublin 2
Telephone: +353-1-638 2700 or you can also email us at firstname.lastname@example.org
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.