Property Description

55–56 Talbot Street comprises a substantial mixed-use investment property extending to approximately 626 sq.m. (6,738 sq.ft.) including common areas. The property consists of a ground floor and basement commercial unit together with two upper floor residential apartments, all prominently positioned on one of Dublin's busiest city centre thoroughfares.

The commercial element extends to approximately 420 sq.m. (4,521 sq.ft.) over ground floor and basement level and is occupied by 4 Kings Amusements Limited under a long lease from August 2016, producing a current passing rent of €45,000 per annum. The lease benefits from a pending 2021 open market rent review, with the next review due in August 2026, presenting an immediate asset management opportunity.

The residential accommodation comprises two spacious two-bedroom apartments extending to approximately 102 sq.m. (1,098 sq.ft.) and 104 sq.m. (1,119 sq.ft.) respectively. Apartment 1 is currently let, producing an annual rent of €28,092, while Apartment 2 is vacant, offering immediate income enhancement potential with an estimated market rental value of approximately €31,200 per annum.

The property currently generates a total passing rent of approximately €73,092 per annum, with significant scope for rental growth.

In addition, the property benefits from the grant of planning permission (Ref. 5335/22) for the reconfiguration of the existing residential accommodation to provide three two-bedroom apartments and two one-bedroom apartments, offering purchasers an exceptional opportunity to substantially increase residential income and enhance the overall investment value.