Buying into Sin in Temple Bar for €2.5m

An unusual opportunity to buy a night club in Dublin’s Temple Bar will arise shortly when joint agents BNP Paribas Real Estate and HWBC offer for sale an investment which will include the Sin Nightclub and eight apartments.

A price in excess of €2.5 million is being sought for the property at 17/19 Sycamore Street, Dublin 2, which will show a gross initial yield of 10.13 per cent once standard purchasing costs are taken into account.

The night club at ground, basement and mezzanine levels is rented at €155,000 per annum under a 35-year lease from 2003. The lease provides for upwards only rent reviews at five-year intervals.

The eight overhead apartments are a mix of one and two-bedroom units and produce an additional €110,000 per year.

Sycamore Street links Dame Street with Meeting House Square and is close to The Olympia Theatre, the Irish Film Institute and Bad Bobs.