159 and 160 Capel Street, Dublin 1, D01FK68

High profile mixed use investment property 2 Full Repairing & Insuring Leases WAULT of 9.6 years Current rent 185,400 europ.a. Potential Rent of 244,800 euro p.a. – by refurbishing vacant 285 sq.m. ground and first floor coach house building Development Potential – potential to develop the rear site upwards and link with adjoining sites SPP Sales Price: region 3,200,000 euro Dash Burger Rent: 46,800 euro p.a. 10 year FRI Lease from 01/06/ 2021 to Dash Burger Babel Academy of English: 198,000 euro p.a. 15 year FRI Lease from 17/12/2021 – Educational Use LOCATION This is an excellent opportunity to acquire a prime city centre mixed use investment property with refurbishment/development potential that is located on a very busy pedestrianised street within a short walking distance from the Red LUAS line, Henry Street and the Jervis Shopping Centre. The ground floor and basement restaurant unit has been fitted out to a high standard by Dash Burger to accommodate a small restaurant with open kitchen and seating for approx. 20 customers with additional on street seating for 18 customers on the pedestrian street directly outside the property with views down to the Liffey and City Hall. This high profile property is located on the south western side of Capel Street beside the newly built 9 storey and 104 bedroom July Hotel on the corner of Strand Street Little. This section of Capel Street is a busy shopping thoroughfare between the landmark Pantibar and the Abbey Street LUAS line close to the corner of Brother Hubbards and the Capel Building, there are several popular restaurants in the area with busy nighttime trade. 159 & 160 Capel Street is only a short walking distance from Henry Street, the Jervis Shopping Centre, the Four Courts, Smithfield Fruit & Vegetable market, the Abbey Street LUAS station and the proposed northern quarter retail development to the west of O'Connell Street. DCC have already commenced an estimated 44 million euro in refurbishment works on the 6,000 sq.m. Smithfield Fruit Market and these are expected to be completed in 2028 to accommodate a food market with provision for cafes, restaurants, farmers market and event space that will appeal to the local Dublin market and tourists. This exceptionally convenient location has a host of established shopping facilities on Capel Street, Jervis Street and Henry Street as well as several office blocks including the Capel Building, Garda Ombudsman, Chapel House, Jervis House, Millennium Walkway etc. In particular, there are a wide range of popular cafes, bars and restaurants on offer in the immediate area as well as outdoor restaurant seating, new benches, planters, placemaking and street art that encourage life onto the streets. There are several new hotels in the immediate area including the adjoining 9 storey July Hotel, The Ruby Molly Hotel, the Bullet Hotel and the Address Collective Hotel by McGettigan’s. There will also be a new student accommodation development on Abbey Street in the former Independent Newspapers Building in 2026. Public transport links are particularly strong in the area, with the Luas red line just 3 minutes' walk away, which provides excellent access to the IFSC Irish Financial Services Centre, Heuston Train station and west Dublin. DESCRIPTION Number 159 and 160 Capel Street comprises two high profile 4 storey over basement interconnecting buildings with a very large ground floor with rear first floor extension in a former coach house building approx. 285 sq.m. that occupies the entire site coverage. We understand that the properties extend to a total floor area of approx. 749 sq.m. 8,062 sq.ft. and were previously occupied by the Credit Union and are not protected buildings, which may facilitate future development at the rear of the site SPP. The ground floor of 159 Capel Street is occupied by Dash Burger restaurant and comprises 86 sq.m. 926 sq.ft., it has been fitted out to a high standard to include a white painted shopfront with a large timber frame window with prominent signage overhead and a recessed side entrance with an electric roller shutter. The restaurant has been fitted out to a high standard to accommodate approx. 20 seated customers with a large tiled service counter with a marble counter top and open gallery kitchen. The restaurant has been designed to accommodate a large volume of take away customer from this high footfall location with high density city centre population from local apartment blocks. The restaurant has a bright and spacious fit out that includes tiled walls around the open kitchen area, stone cut stone blasted brick walls with a feature fireplace, recessed lighting, timber flooring, kitchen canopy and air extraction canopy as well as customer and staff toilets with rear fire escape and back of house storage. 160 has a unique granite stone cut facade on the ground floor with 2 impressive arched granite entrances, one to the 3 upper floors of 160 which have a red brick facade and another gated entrance to the ground floor retail/ office unit which is an old coach house building and was previously used as a banking hall for the Credit Union and language college recently until there was a fire in the adjoining property which caused some fire damage to the property. There is current planning permission in place for educational use for Babel language college who occupy the upper floors and are one of Ireland’s to language schools with several colleges in Dublin City Centre. The 2 properties have been fitted out to a reasonably high standard to provide a reception area and mix of class rooms, training rooms, offices, canteen/ break out areas, store rooms, ladies and gents toilets over the 3 floors. The 2 buildings are interconnected and have 2 separate staircases down the buildings providing additional fire escape routes for students out onto Capel Street. The front rooms facing onto Capel Street are larger and provide bright and spacious class rooms with excellent floor to ceiling height for the language students. The upper floors have been fitted out with fire doors and corridors as well as additional fire escape routes to accommodate the large student numbers. A new owner/ developer may look to refurbish and reinstate the ground floor former banking hall and first floor extension in the coach house building or they may look to apply for planning permission to develop the property and add additional floors to the rear of the property given the fact that the adjoining hotel buildings is up to 9 storeys in height. There may be potential to acquire an adjoining garage premises, which could add to the development potential of the rear of the property and allow for more rooms for the language college or student accommodation/ apartments.