D2 Victorian with restaurant and offices for sale for €2.15m
22 Upper Baggot Street’s rent roll of €110,500 will provide 4.92% return to new owner
22 Upper Baggot Street: The mix of retail and offices has an annual rent roll of €110,500
Colliers International is guiding €2.15 million for what it describes as a “highly reversionary investment” – a Victorian building at 22 Upper Baggot Street, Dublin 2, which is laid out over four floors with a restaurant on the ground floor and offices overhead.
The 332sq m (3,580sq ft) building has a rent roll of €110,500, which will provide a return of 4.92 per cent for the next owner.
Saba, a Thai and Vietnamese-style restaurant, trades from the ground floor on a 15-year lease from 2015 at a passing rent of €85,000 per annum.The lease provides for five yearly open-market rent reviews as well as a break option in year 10.
The upper floors are let to the Elmwood Centre, a counselling and psychotherapy centre, on a four-year, nine-month lease from March 2015 at a rent of €25,500 per annum. The lease includes two car parking spaces to the rear of the building.