13
2 Hardwicke Street, Rotunda, Dublin 1, Dublin 1, D01K4PK
€750,000
190 m²
Office Space
Property Overview
- Available From: Immediately
Description
- Sale Type: For Sale by Private Treaty
- Overall Floor Area: 190 m²
Summary
Frederick House is a mid-terrace, three-storey over basement, period property comprising retail unit on the ground floor and two floors of offices overhead, along with an additional residential flat. It is an attractive investment and asset management opportunity in Dublin city centre.
Location
The property is located on Hardwicke Street close to the junction of Frederick Street North, approximately 700 metres north of The Spire on O€TMonnell Street.
The North Inner City is a major area of focus for future regeneration. Dublin City Council have plans to redevelop Dorset St and St. Mary€TM Place located less than 500 metres from the subject property. The development will include the construction of 163 homes, in a mix of houses duplexes and apartments.
Dublin Central site is another large development planned in the immediate area. The developers Hammerson are planning the redevelopment of the 5.5 acre site to include a new civic square, 97 residential units, 5,400 sqm of retail space, two new hotels & 44,300 sq.m of workspace area.
Notable neighbouring occupiers include several hospitals including The Rotunda and Mater Private Hospital. The surrounding area has a high population of students with IBAT College on North Frederick Street & TU Dublin, Grangegorman Campus located within close proximity of the subject property.
The area is well served by numerous restaurants and cafes. Public transport links are also in abundance with numerous Dublin Bus routes, Dublin Bike depots, Drumcondra Rail Station and the Parnell stop on Luas green line less than 500 metres away.
Situation
Fredrick House is on Hardwicke Street close to its junction with Frederick Street North. It presents investors with the opportunity to acquire a reversionary period property to improve the income level through active asset management.
Description
The property comprises a mid-terrace, three-storey over basement, brick fronted period property currently fully let, but offering immense asset management opportunity as the rents are considerably lower than market rates.
The ground floor is currently in use as a retail convenience store with the basement in storage use.
The first floor is in office use and is occupied by an accountancy firm t/a Moneybooks 4 You.
The second floor is part office occupied by a skin care clinic and part residential flat which is currently tenanted.
The retail unit features plastered and painted walls and ceiling with florescent tube lighting and wood vinyl flooring. There is also a large display window on the shop front.
The office specification is of similar standard, finishes include vinyl wallpaper and wood flooring.
Kitchenette facilities and WC are provided for on the returns, Heating is gas fired.
Accommodation
Approximate floor areas are:
Ground Floor
Retail - 44.41 sq.m. / Store Room with WC on return
First Floor
Front Room with double doors to rear room - 17.18 sq.m. / Front Room 2 - 10.92 sq.m. / Rear Room 17.65 sq.m. / First Floor Return WC
Second Floor
Front Room 1 - 16.22 sq.m. / Front Room 2 - 10.58 sq.m. / Rear Room (Residential) with single WC - 16.15 sq.m. / Shared Landing - Kitchenette - 4.47 sq.m. / Return Kitchenette - 2.61 sq.m.
Basement
Front Room - 27.83 sq.m. / Store Room 1 - 2.31 sq.m. / Store Room 2 - 8.32 sq.m. / Kitchenette - 0.74 sq.m.
Total net internal area 189.71 sq.m. / 2,042 sq.ft.
Tenancy
Tenancy
Ground Floor & Basement / Tenant - Private individual t/a Hodma Shop / Term - 4 years 9 months (expired) / Commence - 11/11/17 / Rent (Ex. VAT) - €18,000
First Floor / Tenant - Moneybooks 4 You Business Consulting / Term - 3 years (expired) / Commence - 01/12/2019 / Rent (Ex. VAT) - €10,200
Second Floor / Tenant - Mr. Romel Sultanov Skin Care Clinic / Term - 2 years 9 mnths (expired) / Commence - 01/03/2019 / Rent (Ex. VAT) - €6,000
Second Floor / Tenant - Private individual (Residential) / Term - TBC / Commence - TBC / Rent (Ex. VAT) - €6,000
Proposal
Asking Price: €750,000 exclusive of VAT
Total passing is €40,200 exclusive of VAT and service charges.
At the asking price of €750,000 this equates to a gross yield of 5.36% or a net yield of 4.87% after standard acquisition costs. Estimated rental value is €58,000 equating to a gross yield of 7.73% or a net yield of 7.03% after costs.
Map
Map
Local AreaNEW
Learn more about what this area has to offer.
School Name | Distance | Pupils | |||
---|---|---|---|---|---|
School Name | St Mary's Primary School | Distance | 220m | Pupils | 248 |
School Name | Gaelscoil Cholásite Mhuire | Distance | 250m | Pupils | 170 |
School Name | Temple Street Hospital School | Distance | 250m | Pupils | 75 |
School Name | Distance | Pupils | |||
---|---|---|---|---|---|
School Name | Gardiner Street Primary School | Distance | 460m | Pupils | 418 |
School Name | Henrietta Street School | Distance | 500m | Pupils | 20 |
School Name | Scoil Chaoimhín | Distance | 630m | Pupils | 62 |
School Name | Central Model Senior School | Distance | 700m | Pupils | 259 |
School Name | Central Model Infants' School | Distance | 720m | Pupils | 162 |
School Name | An Taonad Reamhscoil | Distance | 780m | Pupils | 97 |
School Name | Rutland National School | Distance | 780m | Pupils | 163 |
School Name | Distance | Pupils | |||
---|---|---|---|---|---|
School Name | Belvedere College S.j | Distance | 140m | Pupils | 1003 |
School Name | Mount Carmel Secondary School | Distance | 470m | Pupils | 399 |
School Name | Larkin Community College | Distance | 550m | Pupils | 407 |
School Name | Distance | Pupils | |||
---|---|---|---|---|---|
School Name | The Brunner | Distance | 940m | Pupils | 219 |
School Name | O'Connell School | Distance | 940m | Pupils | 213 |
School Name | St Josephs Secondary School | Distance | 1.2km | Pupils | 239 |
School Name | St Vincents Secondary School | Distance | 1.6km | Pupils | 399 |
School Name | C.b.s. Westland Row | Distance | 1.7km | Pupils | 186 |
School Name | St Patricks Cathedral Grammar School | Distance | 1.9km | Pupils | 277 |
School Name | Scoil Chaitríona | Distance | 2.1km | Pupils | 508 |
Type | Distance | Stop | Route | Destination | Provider | ||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Type | Bus | Distance | 130m | Stop | Parnell Square Nth | Route | 46e | Destination | Mountjoy Sq | Provider | Dublin Bus |
Type | Bus | Distance | 130m | Stop | Parnell Square Nth | Route | 933 | Destination | Big Tree, Moville | Provider | Mc Ginley Coach Travel |
Type | Bus | Distance | 130m | Stop | Parnell Square Nth | Route | 180 | Destination | The Diamond | Provider | Mcconnon Travel |
Type | Distance | Stop | Route | Destination | Provider | ||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Type | Bus | Distance | 130m | Stop | Parnell Square Nth | Route | 932 | Destination | Car Park, Annagry | Provider | Mc Ginley Coach Travel |
Type | Bus | Distance | 140m | Stop | Dorset Street Upper | Route | 40d | Destination | Parnell St | Provider | Dublin Bus |
Type | Bus | Distance | 140m | Stop | Dorset Street Upper | Route | 40 | Destination | O'Connell St | Provider | Dublin Bus |
Type | Bus | Distance | 140m | Stop | Dorset Street Upper | Route | 41d | Destination | Abbey St | Provider | Dublin Bus |
Type | Bus | Distance | 140m | Stop | Dorset Street Upper | Route | 40b | Destination | O'Connell St | Provider | Dublin Bus |
Type | Bus | Distance | 140m | Stop | Dorset Street Upper | Route | 11 | Destination | Sandyford B.d. | Provider | Dublin Bus |
Type | Bus | Distance | 140m | Stop | Dorset Street Upper | Route | 16 | Destination | O'Connell Street | Provider | Dublin Bus |
BER Details
Statistics
11/04/2024
Entered/Renewed
6,281
Property Views
Daft ID: 514636025
Contact Agent
Nick Boyle
087 4674733