Unit 3 The Parnell Centre, 198-200 Parnell St, Dublin 1

Asking Price: €1,275,000

Property Location

Dublin 1 forms part of the north city centre core and is one the busiest shopping and tourism areas within Dublin. Parnell Street is well positioned adjacent to Jervis Street, Mary Street and O’ Connell Street. The subject property is situated to the northern side of Parnell Street close to its junction with Ryder Row and Kings Inn Street. The locality benefits from a number of international hotels with The Maldron Hotel, Jury’s Inn, and the Gresham Hotel all a short walk from the property. Other local attractions include the GPO, The Gate Theatre and the Spire. Surrounding occupiers include Cineworld, Penneys, Smyths Toystore, Aldi and Euro Giant and as such the subject property benefits from a high level of passing footfall. In addition, the subject property benefits from direct access from the Parnell Centre as well as from Parnell Street. The area is well served by public transport facilities with the Luas Red line being accessible at Abbey Street, the DART at Connolly Station and Tara Street, and numerous Dublin Bus routes.

Property Description

The property is arranged over ground and first floors and extends to approximately 239 sq. m (2,581 sq. ft) NIA. The unit benefits from dual frontage with access from Parnell Street and inside the Parnell Centre. Internally the ground floor provides a customer eating area, preparation area, kitchen and customer toilets. The first floor provides an office, staff room, staff toilets and a plant room.

Property Specification

Investment Considerations: • City centre restaurant investment • Extending to approximately 239 sq. m (2,581 sq. ft) NIA• Let to Eddie Rockets Ireland Ltd t/a Eddie Rockets • 35-year lease from November 1996 (Expiry 2031) • Current rent of €100,000 per annum • High level of passing trade and footfall • NIY 7.5%

Lease Terms

The property is let to Eddie Rockets Ireland Ltd t/a Eddie Rockets for a term of 35 years from November 1996 at a rent of €100,000 per annum (exclusive of rates). The lease provides for rent reviews every fifth year and contains internal repairing and insuring covenants.

Property Size/Area

Approximately 239 sq. m (2,581 sq. ft) NIA

Rates

Approx. €12,177.60 p.a

VAT

Any VAT arising from the sale will be a matter for the purchaser

BER Rating

BER Number

800525420

Energy Performance Indicator

700.7 kWh/m²/yr 1.17