£1.3m-plus for four-storey building in Temple Bar
One of the rare opportunities to purchase an investment property in Dublin's tax-driven Temple Bar area will arise on April 12th when Lisney auctions a four-storey restaurant, office and residential building over a basement. William Fennelly is quoting a guideline price of more than £1.3 million (equating to a net yield of 5.28 per cent) for 12/13 Eustace Street which is producing rents of £74,420 from a restaurant and eight residential units. Almost 1,300 sq ft of office space is vacant.
The agency is likely to secure more than £1.2 million for a four-storey refurbished office building and eight car-parking spaces at 18/19 Merchants Quay, Dublin 8, which goes to auction on April 12th. The building is let to Sales Placement on a long lease at £65,000 per annum. In Dalkey village, the same agent is likely to secure over £200,000 for a retail investment at Ulverton Road. The 475 sq ft shop is used as a sub-post office and rented at £12,000 per annum.
Lisney is also to sell or let two adjoining shops. Lisney also expects to secure over £700,000 for a two-storey semi-detached building with 8,270 sq ft at 62/64 Francis Street, which goes to auction on April 11th . The building is likely to be demolished and the site used for a mixed commercial and residential scheme.