Mixed-used Georgian investment in Dublin 4 for sale for €1.75m
Property producing rent of €110,000 could generate more income from vacant floors
Number 120 Pembroke Road in Dublin 4 is currently producing a rent roll of €109,800
A mixed-use Georgian investment with potential in a prime Dublin 4 location is guiding €1.75 million through agents JLL and Lisney.
Number 120 Pembroke Road is producing a rent roll of €109,800. Based on the guide price, this would reflect a net initial yield of 5.78 per cent.
However, its second floor and attic space are vacant and these could, post-refurbishment, be let as additional office space or converted into an attractive apartment.
Number 120 is an end-of-terrace house laid out over five storeys to include a garden and hall level, first and second floor, and a converted attic space. Excluding the attic, it has 1,116sq m (3,811sq ft) of space but, subject to planning and upgrade works, the attic could add about 72sq m (778sq ft).
The garden level is let to Orchid Restaurant, is well presented and provides seating for up to 100. The hall and first floors are let to a legal practice and financial firm.
Number 120 is within walking distance of the village areas of Ballsbridge and Upper Baggot Street and the Dart at Lansdowne Road.
Prime Georgian assets – where capital values have stabilised of late – are selling for less than half of the prices achieved at the height of the boom. They attract interest from home and abroad but Asian investors, in particular, have taken a shine to the sector of late.