A LANDMARK Victorian building at the junction of College Green and Trinity Street, Dublin 2, is expected to make in excess of £1.25 million when it is auctioned on July 4th by Hamilton Osborne King.
The six-storey over basement building is fully occupied and producing a rent roll of £114,100 per annum.
The investment was held for many years by Friends Provident until it sold it to a private investor about six years ago.
All five upper floors are let to accountants R.J. Kidney and Co under a 20-year lease which runs out in the year 2001. The company is paying a rent of £53,200 for the 7,600 square feet - the equivalent of £6.50 per square foot - but the rent is currently under review.
Though originally designed as offices, the upper floors would be ideal for conversion into apartments if they were vacant.
The balance of the rent comes from four retail units which have space on the ground floor and the basement.
Keogh's Restaurant is paying £23,00 per annum for 580 square feet at street level and 380 square feet in the basement of numbers and 2 Trinity Street.
The Mad Flowers shop pays £15,000 for 438 square feet and a basement store of 333 square feet at 14 College Green.
The Pen Corner shop is the best known trader in the building, occupying 430 square feet at street level and a basement of 605 square feet at a rent of £13,000 per annum.
The fourth retail tenant, The Trinity Newsagents and Confectioner, pays £9,900 for a unit of 327 square feet with a slightly larger area in the basement.
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