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High return potential in €1.25m Georgian on South William Street

The partially tenanted four-storey over basement property could offer occupation reversionary rental yield of 10 per cent.

Asset value appreciation is always attractive to investors, so perhaps an opportunity to invest in one such proposition might appeal.

QRE Real Estate Advisers is seeking offers in excess of €1.25 million for a mixed use, four-storey over basement Georgian property at 25 South William Street in Dublin 2.

Situated at the heart of Dublin’s vibrant food and drink quarter, South William Street boasts a bustling atmosphere with an array of popular food and beverage outlets such as Peter’s Pub, Farrier and Draper, Platform 61 and Grogan’s.

No 25 extends to about 293 square metres and has a small yard at the rear. On the ground floor, which extends to about 103 square metres, is a vacant, partially fitted retail unit with ancillary storage at the rear. The ground floor is about 24 metres deep and enjoys some 4 metres of frontage onto South William Street.

The basement comprises a vacant retail unit at the front with independent access from street level. At the rear of the basement are two large storage rooms, one of which is held under a short-term licence.

The first floor is in retail use and is subject to a short-term lease. The second floor accommodates a well-proportioned one-bed apartment, subject to a tenancy. The third floor comprises a vacant one-bed apartment, which can be let at the full open market rent.

The total current passing rent is €44,600 per annum, although QRE suggests a full occupation reversionary rental yield of some 10 per cent, which could exceed €135,000 per annum.

Harry Byrne and Bryan Garry of QRE said: “The vacancy within the most valuable parts of the property provides an incoming investor with significant reversionary potential upon the completion of the leasing of the vacant retail unit, storage and apartment”.

For further information contact QRE’s Harry Byrne at 086-8556927.

written by Sunday Business Post

July 2023