PROPERTY CONSULTANT Finnegan Menton has cut the price of a Georgian office building at 25 South Frederick Street, Dublin 2 to €1.6 million in the expectation that it will secure a quick sale.
Twelve months ago the four-storey over basement building was put on the market by the same private investor at €2.75 million.
The new guide price underlines the dramatic fall in capital values over the past year – even in one of the most fashionable streets in the south inner city.
The house was rented for several years by the Progressive Democrats and is being sold with vacant possession with the exception of the basement which is let to Wellesley Ashe Gallery. The overall floor area is 327.5sq m (3,525sq ft).
Nicholas Corson of Finnegan Menton says the building has the potential to be converted to alternative uses, including restaurant, guest house, art gallery, education institute, embassy, clinic/surgery or a combined residence and office.
The building is exceptionally well located just four doors from Nassau Street.
It is close to George’s Bistro and Dunne Crescenzi, as well as several galleries and guest houses.
