Georgian house on Lower Pembroke Street for €1.7m
Also: Kraft Heinz to relocate to newly refurbished Blackrock block
14 Lower Pembroke Street, Dublin 2
Avoca Court, Blackrock, Co Dublin
Colliers International is guiding €1.7 million for a four-storey, over-basement Georgian house at 14 Lower Pembroke Street, Dublin 2, which produces a rental income of €100,380 – a yield of 5.44 per cent.
The mid-terrace building extends to 416sq m (4,480sq ft), and will be seen as a highly reversionary investment with its mix of uses from a gym to offices and seven residential units. Some parts of the building are in need of refurbishment.
Kraft Heinz is to relocate its Irish headquarters to the newly refurbished Avoca Court in Blackrock, Co Dublin. The company has signed a 15-year lease for 306sq m (3,300sq ft), and joined existing long-term tenants LHW Financial Planning and LHK Insurance. The rent will be €322 per sq m (€30/sq ft).
Deborah Mahon of Lisney says the latest letting was “testament to the city centre standard refurbishment at Avoca Court, and is an excellent fit for an international occupier such as Kraft Heinz to showcase their European presence in a prominent, highly visible building”.
Lisney is handling inquiries for the last two remaining floors, which have a net internal area of 708sq m (7,620 sq ft). The quoting rent is €32 per sq ft.