Joint agents Knight Frank and RE/MAX Properties – Team Citywide are delighted to offer for sale, a substantial mixed use property, consisting of a licenced premises, offices, apartments and vacant offices.
Total Floor Area of 1,700 m2.
Current rent roll of € 199,000.00 / annum with excellent reversionary potential.
The sale comprises a licenced premises with 352m2 at ground level with 289m2 basement, currently in use as Wasabi Restaurant. This premises extends to the complete ground level of 3/4/5 Dorset St Lower and consists of a double fronted bar / lounge area, kitchen, separate customer and staff toilets, designated smoking area, and an off licence, along with substantial basement, with cold room, ample storage space and keg drop access.
The premises is on a 15 year IRI Lease from March 2018 on a current rent of € 55,000.00 / annum increasing to € 110,000.00 / annum in March 2020.
At first floor 3 Dorset St, own door offices leased to Mater Private on a 5 year lease which expired in August 2015 with a rent of € 42,000.00 / annum. The offices are in a modern layout consisting of 2 open plan office spaces, 2 smaller offices, kitchenette and w/c’s, totalling 250 sq. m.
The upper floors of 4 / 5 Dorset St consist of 291 sq. m. of vacant office space, in need of refurbishment and with potential for change of use (SPP).
To the rear of the property and accessed off Georges Place, are 5 apartments, 2 2-bedroom apartment units 58 sq.m. , a spacious 2 bedroom duplex apartment unit 74 sq. m. and 2 3-bedroom with study units 109 sq.m. All 5 apartments are subject to standard residential tenancies and are currently generating € 102,000.00 / annum.
3/ 4 /5 Dorset St Lwr is centrally located at the busy junction of Dorset St Lower and Eccles St / Temple St, benefitting from dual access from Dorset St Lower and Georges Place.
It is in the heart of North Dublin city and approx. 700m from O’Connell and in close proximity to numerous hotels and student accommodation developments.
There is substantial foot-traffic throughout the day with numerous hospitals and offices, and in the evening with Dorset St being a major artery out of the city to the suburbs of Drumcondra, Beaumont and North Dublin.
Joint agents Knight Frank and RE/MAX Properties – Team Citywide are guiding in the region of € 2.3m for the property at 3 / 4/ 5 Dorset St Lwr, Dublin 1, full details are available from:
Further Information & Dataroom available at www.345dorset.com
(These particulars do not constitute an offer or contract, and whilst every effort has been made in preparing all descriptions, dimensions, maps, and plans, these details should not be relied upon as fact. Dimensions / Illustrations are for guideline purposes only and not to scale. Citywide Auctioneers Ltd will not hold itself responsible for any inaccuracies contained therein.)