QRE Real Estate Advisers is seeking offers in excess of €725,000 for a newly re-geared, single-let property available for purchase through Private Treaty.
The building, located at No 88 Capel Street in Dublin 1, is fully tenanted by ICOT College, an English language institution with a presence in Cork and three Dublin locations, including its new headquarters in Block A at Joyce’s Court, Talbot Street in Dublin.
ICOT College has occupied the property for about seven years and recently agreed to renegotiate its existing lease with a new 10-year term and break in year 5 at €67,500 per annum.
Situated at the top of Capel Street, near the intersection with Bolton Street, the property is close to a variety of shops, cafés, pubs, and restaurants, and just 100 metres from Technological University Dublin.
The three-storey building, including a basement, spans 210 square metres and has an enclosed rear garden. Currently, it is used as a school, with classrooms throughout.
According to Jonathan Donnelly of QRE, the property is expected to attract significant interest from private Irish investors, offering an opportunity to acquire a "high-yielding investment with a return of 8.46 per cent, after purchasers’ costs, in a prominent central Dublin location.”
For more details contact the agent at 01-6375555.