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2nd & 3rd Floors, 35 Cathedral Court, New Street South, Dublin 8

Following a successful leasing campaign, QRE Real Estate Advisers have been appointed to sell the 2nd & 3rd floors of 35 Cathedral Court, New Street South, Dublin 8 with a guide price of €2.25 million.

 Cathedral Court is a vibrant mixed use residential and commercial development located on New Street South, Dublin 8. The subject property is surrounded by the Maldron, Hyatt Centric and Loft Hotels.

The property is situated less than 500m from the new Westridge development on the old TU Dublin Kevin Street site.

There are a wide range of public transport links within the immediate vicinity with the Green Line Luas circa 7 min walk away at St Stephen’s Green and a host of Dublin Bus routes from New Street South.

This investment sale provides for two new leases to Currie and Brown and Cuckoo Events Limited (Ireland). Both tenants have signed circa 10-year leases, with term certain income of approximately 5 years.

The building has been extensively refurbished and enhanced with works in recent years to include a new Heat Interface Unit, extensive fire remedial works, and a complete boiler room upgrade, amongst other improvements. The fire alarm has been recently overhauled including the installation of a new fire alarm panel. There is a natural ventilation system installed on both floors.


The subject property comprises the second and third floor of Cathedral Court which extends to approximately 248 sq. m. (2,670 sq. ft.) on each floor, totalling approximately 496 sq. m (5,340 sq. ft). The accommodation is well proportioned and is fitted out to a high standard to include a large reception and waiting area, cellular glazed meeting rooms, open plan office accommodation, modern kitchen facilities, and an air-conditioned comms room.

The office accommodation also benefits from bathroom facilities on each floor including access enabled facilities. A lift serves all floors of the building including the basement car park.

In addition, 5 basement car parking spaces are included in the sale. Also included, is a basement storage area extending to approximately 25 sq. m. (270 sq. ft.). This is demised in its entirety to Cuckoo Events Limited as part of their lease.

QRE Real Estate Advisors are guiding €2.25m which equates to a Net Initial Yield (NIY) of approximately 7.36%. This represents an attractive capital value of €421 per sq. ft.

Harry Byrne of QRE reports that the subject property will appeal to a wide variety of investors seeking minimal asset management in the short term. He also stated that the fundamentals of the building are excellent in every regard, including the added benefit of city centre secure car parking.

written by QRE

December 2022