1-2 Leeson Street Lower,
Dublin 2
Sold
€1,100,000
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
SoldBER Details
Property Location
Documents
QRE Contact
Bryan Garry
MRICS MSCSI
Director Investment
Bryan has over 13 years of experience in the Irish commercial property market. As Director of the In... View More
+353 83 391 8649
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