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

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.

The Orchid Restaurant occupies the ground floor of the building
The Orchid Restaurant occupies the ground floor of the building

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).

Well presented

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.