Mixed-use investment in Dublin 8 guiding at €3.2m

Investors looking to secure a foothold in Dublin’s hugely sought-after Liberties area will be interested in a newly constructed mixed-use property that has been brought to the market at a guide price of €3.2 million by agent CBRE.

The property, at 98-99 Francis Street, comprises a five-storey building extending to 659sq m (7,094sq ft) with a ground-floor retail unit and seven residential units overhead. The residential component consists of three one-bed apartments and four two-bed apartments, including a top-floor penthouse. The accommodation has been finished to a high standard, and each unit has its own balcony. There is a landscaped urban courtyard to the rear for use by all occupants.

The apartments are fully let and producing a gross rental income of about €180,000 per annum. The € 3.2 million guide price equates to a net initial yield of 4 per cent following acquisition costs.

Retail unit

The ground-floor retail unit has own-door access and extends to 101sq m (1,089sq ft). The unit has planning permission for food and beverage use, and offers the prospective buyer the opportunity to increase the building’s current rental income.

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The property, just 950m from St Stephen’s Green and 750m from Camden Street, is expected to prove attractive to a range of potential occupiers.

Fiona Kennedy, who is handling the sale on behalf of CBRE, says: “98/99 Francis Street presents a rare opportunity to acquire a newly constructed residential property in a vibrant and upcoming area, with the prospect of adding value through the leasing of the ground-floor retail unit. Given the ongoing restrictions surrounding Covid-19, CBRE will facilitate both onsite and virtual 3D tours of the property.”