Testing time for investments in Dublin market

Agents Finnegan Menton will again test the strength of Dublin’s Georgian investment market when it offers for sale today a fully let Georgian house at 19 Fitzwilliam Place. Nicholas Corson, of the agency, is guiding €1.1 million for the house, which is let on two leases at a combined income of €66,000. The rent is to be increased to €70,000 from November 2015.

The four upper floors have been let since 2011 to Lucini & Lucini Communications with a parent company guarantee on a 10-year lease. The landlord and tenant have the option to break the lease at the end of 2016 if vacant possession is required.

The tenants are major players in email marketing with offices in nine countries. They moved their HQ to Dublin three years ago. With Dublin office rents already moving, there are good prospects of a rent increase in 2016. The basement is let to Keating & Associates Public Relations and Communications on a 25-year lease at €18,000 per annum.

The house is located on the east side of Fitzwilliam Place with rear access from Lad Lane where there are six car parking spaces.