€4.25m for prime investment opportunity on St Stephen’s Green
Property held under single lease to Insomnia Coffee Company at annual rent of €190,000
No 4 St Stephen’s Green is adjacent to Dublin’s premier shopping destination, Grafton Street
While the growth of Dublin’s commercial centre continues apace with the regeneration over recent years of the city’s docklands and the Liberties, the enduring appeal of St Stephen’s Green is expected to see strong interest in a mixed-use investment that has just been brought to the market.
Agent JLL is guiding a price of €4.25 million for No 4 St Stephen’s Green, a four-storey, over-basement building next to the city’s premier shopping destination, Grafton Street and directly opposite the St Stephen’s Green Luas green line stop.
The ground floor and basement are currently in retail use, and trading as Insomnia Coffee Company. The three upper levels are in office use throughout, and have the benefit of separate access directly from St Stephen’s Green.
The retail unit is fully fitted to a high standard by the tenant with main seating area, service area and kitchen at ground-floor level with ancillary storage and toilet facilities at basement level. The upper floor has undergone a good quality refurbishment. No 4 St Stephen’s Green extends to 297.48sq m (3,202 sq ft) net internal area.
The subject property is held under a single lease to Insomnia Ltd for 35 years from September 29th, 1988. The 2018 rent review was recently agreed at an increased level of €190,000 per annum.
The property is located at the heart of Dublin’s central business district. The immediate area is home to a number of leading retail, business and educational occupiers including the Disney Store, Massimo Dutti, Ted Baker, Levi’s, River Island, Victoria’s Secret, Brown Thomas and Marks & Spencer, Indeed, BDO, the Royal College of Surgeons and Trinity College Dublin.
A number of tourist attractions contribute to Grafton Street’s estimated annual footfall of 24.8 million. These include St Stephen’s Green itself, Viking Splash Tours, the Little Museum of Dublin and the hugely popular horse and carriage rides offered to visitors.