QRE Real Estate Advisers are delighted to announce the successful sale of 88 Capel Street, Dublin 1 - a distinctive period property fully let to ICOT College, a well-established English language institution.
This investment opportunity comprised a single-let, mid-terraced, three-storey over basement building, extending to approximately 210 sq.m. (2,255 sq.ft.). Positioned on Capel Street, the property also benefited from a private enclosed garden to the rear.
Ahead of the sale, QRE successfully negotiated a lease regear with the existing tenant, securing a new 10-year lease with a break option in year 5, at a rent of €67,500 per annum, further enhancing the asset’s investment profile.
Following a full marketing campaign and sales process, the property was acquired by a domestic investor, at an attractive yield given the established tenant and long lease term.
Jonathan Donnelly of QRE commented:
"QRE is proud to have delivered another strong result, working hand-in-hand with the receivers at Deloitte to execute a tailored and effective sales strategy."
For further information, please contact:
Jonathan Donnelly
Surveyor
QRE Real Estate Advisers