Investors and owner-occupiers looking to secure a foothold on Dublin’s principal thoroughfare will be interested in the sale of number 4 O’Connell Street, which has been brought to the market by Knight Frank at a guide price of €1.5 million.
Located within close proximity to the Clerys Quarter, the new mixed-use development now being delivered by Paddy McKillen jnr's Oakmount on the site of Clerys' former department store, the property is a five-storey, over-basement, mid-terraced building, suitable for retail and office use. With an overall floor area of 310sq m (3,350sq ft) it has been fully refurbished with upgraded lighting, fire safety and decorative finishes.
The retail element extends to 130sq m (1,370sq ft) and comprises a regular-shaped ground-floor shop with a new glazed display shopfront. There is full retail use at basement level accessed by an internal stairway.
Separate access is provided to the upper floors from O’Connell Street, with direct access also available from the ground-floor shop. The building offers the flexibility for either single or multiple occupancy. It has an external fire escape stairs.
Footfall on O’Connell Street is among the highest for Dublin city with more than 30 million pedestrians recorded in 2018. That figure is likely to increase following the scheduled completion of the Clerys Quarter in 2021.
Number 4 O’Connell Street should appeal to retailers/service businesses including restaurants, financial services, travel advisors, tourist-related services and educational uses. The property is being offered for sale with full vacant possession.
Ross Fogarty of Knight Frank says: “The investment is an ideal size for a private buyer looking for a secure investment, with a potential rent roll of between €100,000 and €120,000 per annum.”