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1-4 Adelaide Road, Glasthule Village, Co. Dublin

A high-profile auction sale scheduled for December 8th is likely to be of keen interest to both investors and particularly developers focused on the lucrative South Dublin market. No’s. 1-4 Adelaide Road, located in the village of Glasthule, is to be offered for sale via online auction with a guide price of €1.95m by QRE Real Estate Advisers.

1-4 Adelaide Road, is located close to the corner of Adelaide Road and Glasthule Road, to the rear of the newly opened Greedy Eagle pub (formerly The Eagle House). The subject property is within 50 metres of the Village.

The building comprises a three-storey standalone office building extending to approximately 1,000 sq. m. (10,750 sq.ft.), together with surface car parking. The building is occupied under a single lease by Houlihan Cushnahan & Co. ( at a contracted rent of €107,250 per annum. The term of the lease is for 20 years from September 2007, with lease expiry in August 2027. There are tenant only break options in 2024 and 2026, whilst there is an outstanding rent review (dated 2022), which could be actioned by an incoming investor. In the normal manner, the sitting tenant is not affected by the sale.

The subject lands are zoned ‘Neighbourhood Centre’ within the Dún Laoghaire-Rathdown County Development Plan 2022 – 2028, The objective is to protect, provide for and/or improve mixed-use neighbourhood centre facilities. Permitted uses include; Assisted Living Accommodation, Education, Guest House, Healthcare Facility and Residential. Meanwhile, Residential – Build to Rent and Student Accommodation are also uses Open for Consideration. Given, the prime location of the property, it is likely to be of interest to developers and investors who are willing to take a medium-long term view on a future development (subject to planning), until lease expiry.

Bryan Garry and Harry Byrne of QRE Real Estate Advisers are handling the sale on behalf of the Vendor, and expect given the attractive capital value (approximately €182 per sq. ft.), that the sale will appeal to a broad cross section of purchasers. A legal pack is available to review through the agents.

written by QRE

December 2022