1-2 Leeson Street Lower,, Dublin 2

Property Highlights

Prime Office investment
CBD Location
Excellent asset management opportunity
Current Gross Rent €88,800 p.a.
Estimated Rental Value €110,000 p.a.
Tenants not affected
Gross initial yield 8.07%

Property Location

The subject property is situated in a prime office location at the junction of Leeson Street Lower and Earlsfort Terrace, overlooking St. Stephen’s Green. The location is unparalleled with ease of access to all surrounding amenities and transport nodes to include Dublin Bus, Dublin Bikes, Luas and Taxi services.

Adjoining and nearby retail occupiers include Chapter & Verse (directly underneath subject property), Café Sol and Mister Magpie. Corporate occupiers in the vicinity include Aercap, Permanent TSB, and KKR.

Property Description

The property which extends to approx. 224.4 sq.m. (2,415 sq.ft) NIA comprises an own door self-contained Georgian office in the upper three floors of 1-2 Leeson Street. The upper floors are accessed independently from Earlsfort Terrace (doorway between Ace Locksmiths and Mister Magpie).

The offices were fully refurbished in 2007 to include a new roof and benefits from CAT 6 cabling, CCTV, fluorescent lighting, carpet covering, WCs, kitchenette, electric radiators, and perimeter trunking. The offices are typically laid out in four rooms of varying sizes per floor off with a reception area off a central stair core. The property provides for 11 office suites.

Lease Terms

The property is occupied by several Tenants by way of direct licence agreement with the Landlord. Further details including copies of the licence agreements are available upon request. The current gross rent receivable is €88,800 per annum. There are currently two vacant offices available for immediate occupation, both of which are located on the second floor. The estimated rental value for the entire is approximately €110,000 p.a.

Property Size/Area

224.4 sq.m. (2,415 sq.ft.)

Property Status

Sold