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€1,500,000 SALE AGREED

The Legal Eagle, 2/3 Chancery Lane, Smithfield, Dublin 7

3640 sq. ft.

Investment Property

Property Overview

  • Available From: Immediately

Description

  • Sale Type: For Sale by Private Treaty
  • Overall Floor Area: 3640 sq. ft.
EXCELLENT OPPORTUNITY TO ACQUIRE AN AWARD WINNING GASTRO PUB AND LONG TERM INVESTMENT PROPERTY The current operator is prepared to take on a new Long Term Full Repairing and Insuring Lease of the entire premises and will agree to pay a rent of €100,000 p.a. Location 1/ 2 Chancery Lane is located to the immediate north side of the River Liffey, directly opposite the Four Courts and close to the junction of O'Donovan Rossa Bridge. The rear of the subject property is located directly opposite the Ormonde Building, which is occupied by the OPW, Regus Serviced offices and a Post Office and Costcutter convenience store on the ground floor. This is an excellent city centre location overlooking the River Liffey and the Four Courts. The property is conveniently located in the heart of a Dublin tourism hotspot and is within a very short distance from some of Dublins most popular and historic visitor attractions. Christchurch Cathedral, Dublinia Viking Museum, St. Patricks Cathedral, Viking Splash Tours, The Guinness Storehouse, Dublin City wall, Dublin Castle and several whiskey distilleries and visitor centres including the newly refurbished Jameson Distillery in nearby Smithfield and Pearse Lyons distillery on James Street and a host of popular hotels, cafés, bars and restaurants in the immediate area. The Legal Eagle is also located close to the Digital Hub which is a start-up centre for Irelands largest cluster of technology, digital media and internet companies. Some recent Digital Hub companies include Amazon, Stripe, Daft.ie, Havok and Riverdeep etc. The close proximity of Smithfield LUAS station provides excellent public transport access to the city centre, Irish Financial Services Centre and the Silicon Docks. This area of Dublin has recently seen some strong regeneration and development in recent years including the refurbishment of the Jameson Distillery and the development of the old motor tax office into a new hotel, pre-let rental of the Distillers Building by the OPW, and the ongoing development of the DIT Grangegorman College Campus. Other developments planned for the area include the development of the Fruit Markets into a world class food market by Dublin City Council, the Guinness Brewery site into a dynamic urban quarter, the Iveagh Markets by DCC, Grand Canal Harbour site by Marlet, Digital Hub phase two and development. Description 1/ 2 Chancery Lane has been beautifully refurbished to a very high standard by the Winding Stair group to include a large ground floor restaurant and bar with seating for approximately 100 customers. Most of the bars original features have been kept including some of the original feature stained glass windows, brickwork walls, wooden bar partitions with feature windows. We understand that the property has a Gross Internal Floor Area of approximately 338.2 sq.m. (3,640 sq.ft.) and benefits from a Seven Day Publicans Licence in addition to a restaurant licence. The property has been fitted out to an extremely high standard to include bright and spacious seating accommodation, a main reception and bar area, a large restaurant with roof box ceiling, private first floor floor dining area, long bar and open plan kitchen area with pizza ovens, ladies, gents, staff and invalid toilets. The property has good natural light with a large roof light and a large timber frame shopfront with feature windows and a double door entrance. The property design makes the most of the floor area and provides a separate bar/café area plus bright and spacious seating accommodation that can comfortably seat up to 100 customers with an additional private dining area for 40 customers on the first floor. The back of house space i.e. the kitchen, cold store, dry store, keg room and toilets are in the basement, ground and first floors on the opposite side of the windows. A property investor will benefit from the extensive fit-out works that were carried out by the owner and current tenant. Accommodation Gross Internal Floor Areas Description Sq.m. Sq.ft. Ground Floor Restaurant & Bar 120.5 1,297 First Floor Dining Area 77.7 836 Second Floor 54 581 Basement Floor 86 926 Total 338.2 3,640 Amenities The property is located one building to the north of the River Liffey and benefits from views overlooking the Four Courts and the O'Donovan Rossa Bridge. The property is only a stones throw from the Liffey and a walkway along the Liffey via the Liffey Boardwalk which overhangs the Liffey and stretches from Grattan Bridge right up to the Custom House and the Matt Talbot Memorial Bridge in the Irish Financial Services Centre. The property is located directly opposite the infamous Four Courts buildings which were designed by James Gandon and built in 1786 to 1796 and featured in the 1916 Rising and Civil War of 1922. This building is linked via the Liffey Boardwalk to another James Gandon neoclassical building, the Custom House. The Legal Eagle is located close to some of Dublin's most popular and historic visitor attractions. Christchurch Cathedral, Dublinia Viking Museum, Jameson Distillery, the Smithfield Fruit Markets, St. Patricks Cathedral, Viking Splash Tours, The Guinness Storehouse, Dublin City wall, Dublin Castle and several whiskey distilleries and visitor centres. Zoning and Development potential Zoning Z8 The property is zoned Z8 - Georgian Conservation Areas under the Dublin City Development Plan 2016 to 2022 To protect the existing architectural and civic design character, and to allow only for limited expansion consistent with the conservation objective. Investment - Lease The current tenant The Legal Eagle (part of Winding Stair group) is prepared to take on a new 25 year Full Repairing & Insuring Lease from 2019. www.thelegaleagle.ie Title Long leasehold Services We understand that all mains services are connected to the property Solicitor Rory McDonald, Whitney Moore Solicitors, Wilton Park House, Wilton Place, Dublin 2

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BER Details

D2

BER No: 800208100

Energy Performance Indicator: 1375.14 kWh/m2/yr

Statistics

07/04/2021

Entered/Renewed

3,700

Property Views

Daft ID: 5979278

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Robert Colleran

Robert Colleran Property Consultants Ltd

PSR Licence Number: 003936002035

SALE AGREED
0872906849

Robert Colleran Property Consultants Ltd

Robert Colleran's logo
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Robert Colleran

SALE AGREED