Georgian office building in Dublin 2 for sale at €1.9m

TV production firm Midas Productions is a long-time tenant of 34 Lower Baggot Street

34 Lower Baggot Street in Dublin. The Georgian office building is for sale for in excess of €1.89m. Photograph: Peter Moloney/PM Photography

34 Lower Baggot Street in Dublin. The Georgian office building is for sale for in excess of €1.89m. Photograph: Peter Moloney/PM Photography

 

With an ever increasing number of wealthy businesspeople looking for a secure property investment that will show a reasonable return, Cushman & Wakefield is expecting considerable interest in a prime Georgian office building at 34 Lower Baggot Street, Dublin 2, offering a yield of 5.5 per cent.

Clive Roche of the agency is seeking offers in excess of €1.89 million for the four-storey, over-basement building, which extends to 366sq m (3,939sq ft) and is interconnected to a rear mews.

The interior of the mid-terraced house is particularly well-preserved and retains many original features, including fireplaces and ornate decorative coving.

It is currently let in its entirety to Tatoria Ltd, trading as Midas Productions and Raygun, on a 10-year lease from August 2015, at a net annual rent of €108,650.

The lease includes a tenant break option in August 2020, subject to a six-months’ break penalty. The tenants have been in situ for more than 20 years.

Midas Productions is a well-known creator of television programmes and has worked with RTÉ, TV3 and TG4. Raygun offers a complete in-house postproduction service.