161 Capel Street, Dublin 1, D01NT86

Lot 1 Ground Floor 600,000 euro Lot 2 Upper Floors only 600,000 euro Lot 3 Entire Building region 1,200,000 euro Ground Floor Rent: 37,000 euro per annum Ground Floor 10 year Lease from 09/09/ 2021 to Vision Ireland - Vintage Charity Shop Lease held by - NCBI Retail CLG Registered Charity LOCATION This is an excellent opportunity to acquire a prime city centre mixed use investment/ residential refurbishment property 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 retail unit has been fitted out to a reasonably high standard by Vision Ireland to accommodate a retail showroom and registered charity clothing store with an office and store rooms located at the rear of the unit which measures approx. 1,500sq.ft This high profile property is located on the south western side of Capel Street beside the newly built 104 bedroom July Hotel on the corner of Strand Street Little. This 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. 161 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 northern quarter retail development to the west of O'Connell Street. DCC have already commenced an estimated '¬44 million 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. In particular, there are a wide range of popular cafes, bars and restaurants on offer in the immediate area as well as benches, planters, placemaking and street art. There are several new hotels in the immediate area including the adjoining July Hotel, The Ruby Molly Hotel, the Bullet Hotel and the Address Collective Hotel by McGettigan€TM. 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 161 Capel Street comprises a large ground floor retail showroom premises which extends back approximately 20 metres. The property has a large timber frame window with prominent signage overhead and a side entrance and a red brick faé§ade on the upper floors. There is an electric roller shutter on the outside of the premises. The interior has been fitted out to a reasonably high standard by Vision Ireland to include a quirky fit out that suits their vintage clothing sales and includes recessed and display lighting, laminate and timber floor coverings with bright plastered and painted walls. There is a separate side entrance to the 3 self-contained residential floors overhead, the entrance lobby has been slabbed out and there is a fire alarm system in place for the upper floors. There is a fire certificate in place for the property and for the residential use on the upper floors. We understand that extensive works have been carried out on the upper floors including the installation of a new truss rafter roof and sash windows throughout the property. Most of the upper floors are currently in shell and core condition with exposed brickwork and chimneys breasts with some of the original mantlepieces still in place in most of the rooms. A developer may look to convert the upper floors into 3 large apartments (1 apartment per floor) or look to convert the upper floors into 6 smaller studio apartments with 2 apartments per floor, Subject to Planning Permission. Commercial rates are approx. '¬7,000 per annum and building insurance costs are approx. '¬2,000 p.a. Please note that the current tenant is a Registered Charity and is exempt from paying commercial rates