With investment properties rarely coming on the market in Dublin’s Temple Bar area, selling agent Colliers
is expecting strong interest in a particularly high profile building in the heart of the area. Number 1 Temple Bar Square, which is currently let to Gourmet Burger, is for sale at around €1.6 million.
The restaurant is paying a rent of €130,000 per annum under a 25-year lease from 1995 which has another six years to run.
If the asking price is achieved, the new owner can bank on a net initial yield of 7.7 per cent after allowing for standard purchasers costs of 4.46 per cent.
The modern, fully-fitted restaurant extends to 145sq m (1,560sq ft) and has additional seating outside on the open square. It has frontage on to Lwr Fownes Street as well as on to the busy Temple Bar Square, the main meeting point for visitors to the tourist area.
Gourmet Burger forms part of a mixed-use development with retail units at street level and apartments on the upper floors.
Michelle McGarry of Colliers says the property will appeal to investors “looking for an easily managed commercial investment in a great location.”