10
44/45 South William Street, Dublin 2, D02WT04
€2,000,000
SALE AGREED831 m²
Investment Property
Property Overview
- Available From: Immediately
Description
- Sale Type: For Sale by Private Treaty
- Overall Floor Area: 831 m²
Property Highlights
- A prominent four storey over basement terraced building situated on South William Street
- Located in the heart of Dublin's F&B core within the Creative Quarter
- Extending to approximately 6,392 sq.ft. (NIA) and 8,944 sq.ft. (GIA)
- Basement and Ground floors let to Dada Moroccan Cuisine & Tapas under two separate leases (lease expiry April 2030) at a contracted rent of €123,000 per annum
- Vacant possession of 10 x workshop / retail studio units
- Highly reversionary by way of refurbishment and letting of vacant workshop and retail studio units
- For the avoidance of doubt please note that this is an investment sale and the tenants are not affected
- Offers are sought in excess of €2,000,000 which represents a net initial yield of 6% after allowing for standard purchaser costs of 9.96%.
Property Location
The subject property occupies a high-profile location on the southern end of South William Street near its junction with Chatham Street. Dublin's principle shopping quarter Grafton Street and the historic Castle Markets area are within close walking distance. Trinity College Dublin is also located 500 metres to the north which attracts over 500,000 visitors annually.
The area has become one of Dublin's most established entertainment quarters and is popular amongst tourists and locals due to the number of bars and restaurants. Nearby occupiers include Farrier & Draper, Metro Cafe, The Port House, Dakota, Alfies, Sole and Ladurée. Powerscourt Townhouse Centre is located 150m to the north and comprises a specialty shopping centre comprising over 40 boutique shops and restaurants.
The subject property is located approximately 350 metres to the north west of the St. Stephen's Green Luas stop. The are numerous bus routes serving the locality which can be accessed from nearby St. Stephens Green and College Green.
Property Description
The subject property comprises a four-storey over basement mid-terrace Georgian property located on the southern end of South William Street. The property has a brick faé§ade with sliding sash windows on the upper levels.
The ground and basement levels are occupied by a restaurant user (Dada) and traverse the ground and basement, access to the restaurant is provided at the ground floor level of No 45. The ground floor is open plan in layout to provide for a bar, restaurant and service kitchen to the rear. The basement level is laid out to provide for a preparation kitchen, ladies and gents toilet facilities and private function room.
The property, subject to planning is suitable for a wide range of uses. The ground floor restaurant has capacity for 150 patrons whilst, the basement accommodation (Ziryab Private Room) can cater for up to 60 patrons.
The first, second and third floors of the subject property are entered through a separate entrance via No. 44 South William Street. The upper floors of the property comprise 11 x workshop/retail studio units. All accommodation on the upper floors is in need of refurbishment.
Lease Terms
The basement and ground floors are both let on individual t/a Dada Moroccan Cuisine & Tapas Restaurant on separate coterminous leases until April 2030 at a combined rent of €123,000 per annum. The lease
provides five yearly open market rent reviews and provides for full repairing and insuring covenant.
Metro Cafe occupy the rear first floor office on an the basis of an informal tenancy agreement at a current passing rent of €9,100 per annum. Therefore, the total passing rent is €132,100, with vacant possession of 10 x workshop/studio spaces on the upper floors.
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Local AreaNEW
Learn more about what this area has to offer.
School Name | Distance | Pupils | |||
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School Name | South City Cns | Distance | 300m | Pupils | 137 |
School Name | St Patrick's Cathedral Choir School | Distance | 630m | Pupils | 31 |
School Name | Francis St Cbs | Distance | 700m | Pupils | 170 |
School Name | Distance | Pupils | |||
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School Name | St Audoen's National School | Distance | 830m | Pupils | 190 |
School Name | St Brigid's Primary School | Distance | 840m | Pupils | 236 |
School Name | Bunscoil Synge Street | Distance | 920m | Pupils | 113 |
School Name | City Quay National School | Distance | 980m | Pupils | 176 |
School Name | Georges Hill School | Distance | 980m | Pupils | 131 |
School Name | Presentation Primary School | Distance | 1.1km | Pupils | 210 |
School Name | Scoil Chaoimhín | Distance | 1.2km | Pupils | 62 |
School Name | Distance | Pupils | |||
---|---|---|---|---|---|
School Name | St Patricks Cathedral Grammar School | Distance | 620m | Pupils | 277 |
School Name | Loreto College | Distance | 660m | Pupils | 570 |
School Name | Catholic University School | Distance | 810m | Pupils | 561 |
School Name | Distance | Pupils | |||
---|---|---|---|---|---|
School Name | Synge Street Cbs Secondary School | Distance | 930m | Pupils | 311 |
School Name | C.b.s. Westland Row | Distance | 940m | Pupils | 186 |
School Name | Presentation College | Distance | 1.1km | Pupils | 152 |
School Name | Mount Carmel Secondary School | Distance | 1.3km | Pupils | 399 |
School Name | Larkin Community College | Distance | 1.3km | Pupils | 407 |
School Name | The Brunner | Distance | 1.3km | Pupils | 219 |
School Name | St. Mary's College C.s.sp., Rathmines | Distance | 1.6km | Pupils | 476 |
Type | Distance | Stop | Route | Destination | Provider | ||||||
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Type | Bus | Distance | 140m | Stop | South Great George's Street | Route | 14 | Destination | Dundrum Luas | Provider | Dublin Bus |
Type | Bus | Distance | 140m | Stop | South Great George's Street | Route | 83 | Destination | Kimmage | Provider | Dublin Bus |
Type | Bus | Distance | 140m | Stop | South Great George's Street | Route | 15d | Destination | Whitechurch | Provider | Dublin Bus |
Type | Distance | Stop | Route | Destination | Provider | ||||||
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Type | Bus | Distance | 140m | Stop | South Great George's Street | Route | 15 | Destination | Ballycullen Road | Provider | Dublin Bus |
Type | Bus | Distance | 140m | Stop | South Great George's Street | Route | 140 | Destination | Rathmines | Provider | Dublin Bus |
Type | Bus | Distance | 140m | Stop | South Great George's Street | Route | 15a | Destination | Limekiln Ave | Provider | Dublin Bus |
Type | Bus | Distance | 140m | Stop | South Great George's Street | Route | 65b | Destination | Citywest | Provider | Dublin Bus |
Type | Bus | Distance | 140m | Stop | South Great George's Street | Route | 65 | Destination | Blessington | Provider | Dublin Bus |
Type | Bus | Distance | 140m | Stop | South Great George's Street | Route | 83a | Destination | Kimmage | Provider | Dublin Bus |
Type | Bus | Distance | 140m | Stop | South Great George's Street | Route | 65 | Destination | Ballyknockan | Provider | Dublin Bus |
BER Details
Statistics
02/04/2024
Entered/Renewed
3,041
Property Views
Daft ID: 518857918
Jonathan Donnelly, Surveyor
SALE AGREED