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Centrally located Moore Street property should appeal to investors

57/58 Moore Street and the rear of No 56 is currently leased to Eurogiant and generates and has a guide price of €1.65m.

Retail investors keen to get a foothold in the heart of Dublin city might be interested in a property on Moore Street in Dublin 1 currently for sale through QRE Real Estate Advisers with a guide price of €1.65 million.

The property comprises numbers 57/58 Moore Street along with the rear of No 56, is currently leased to Eurogiant until April 2026, generating an annual rent of €140,000.

The three-story over basement mid-terrace building spans about 823 square metres and is strategically located just a few metres away from Henry Street. Notably, Henry Street has experienced renewed tenant interest post-Covid-19.

The investment has a net initial yield of 7.72 per cent, which should appeal to investors.

With an attractive capital value of around €186 per square foot, [about €2,000 per square metre] significantly below replacement cost, this offering is expected to draw substantial attention.

The sale of this property also stands to benefit from the upcoming Dublin Central scheme, a noteworthy regeneration project developed by British property group, Hammerson, and recognised as one of the largest in Dublin.

The initiative is poised to stimulate economic growth and revitalisation in the north inner-city region. Additionally, the project includes plans for a fully integrated Metrolink station for O’Connell Street.

It's worth highlighting that the property holds Z5 'City Centre' Zoning under the latest Dublin City Development Plan. This zoning, combined with potential future planning permissions, opens up possibilities for the property's conversion or redevelopment into various uses, including but not limited to a restaurant, residential hotel, hostel and office space.


written by Sunday Business Post

September 2023