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20
€350,000

Variety Jones restaurant, Ground Floor and Basement, 78 Thomas Street, Dublin 8

861 sq. ft.

Investment Property

Property Overview

  • Available From: Immediately

Description

  • Sale Type: For Sale by Private Treaty
  • Overall Floor Area: 861 sq. ft.
This is an excellent opportunity to purchase a high profile city centre investment property in the heart of Dublin 8. The vendor is prepared to sell on the ground floor and basement restaurant premises, which is rented out to 'Variety Jones' Michelin Star restaurant under a long term Lease with a passing rent of €25,000 p.a. Variety Jones restaurant is run by brothers Aaron and Keelin Higgs and who were awarded a Michelin Star and have been recently listed as one of Lucinda O'Sullivan's best restaurants in Ireland in the Sunday Times. Number 78 Thomas Street is located on the south side of Thomas Street only 2 properties to the immediate west of Francis Street, one of Dublin's up and coming streets. Francis Street was traditionally the home of furniture shops and art galleries but has seen some exciting new developments including the arrival of Stay City's 242 bedroom hotel, Anti-Social and 2 Pups Coffee etc. The property is also located within a short walking distance of Vicar Street, which is one of Irelands premier music venues. It is also located opposite NCAD/ the National College of Art and Design as well as Saint Augustines church and Harry Clarkes House. 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. The Guinness Storehouse, Christchurch Cathedral, Dublinia Viking Museum, St. Patricks Cathedral, Viking Splash Tours, Dublin City wall, Dublin Castle and several whiskey distilleries and visitor centres including Pearse Lyons distillery on James Street and a host of popular cafés bars and restaurants. 78 Thomas Street 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.This area of Dublin has recently seen some strong regeneration and development in recent years including the Pearse Lyons Distillery and visitor Centre in St. Jamess Church, Digital Hub development of the Grain Store building and Binary Hub student accommodation. LO C AT I O N The former Frawleys student accommodation development on Thomas Street as well as Teelings Distillery. Other developments planned for the area include the development of the Guinness Brewery site into a dynamic urban quarter, the Iveagh Markets by DCC, Grand Canal Harbour site by Marlet, Digital Hub phase 2 and development of 2 sites to the rear of Vicar Street for a boutique hotel and student accommodation on Garden Lane. This is a very popular area for IT and design companies given the close proximity to the Digital Hub, NCAD. The subject property is located in a very popular tourism District and is within 5 minutes walking distance from Temple Bar and a host of popular cafes, restaurants and bars. 78 Thomas Street comprise a 4 storey mixed use Pre -63 building that occupies a high profile location beside Francis Street. There is a separate self-contained entrance to the 3 floors of apartments overhead, which are separately owned. The ground floor and basement lock up shop is self-contained and has full planning permission for restaurant. It is trading as 'Variety Jones' Michelin Star restaurant and has been fitted out to a very high standard to include a newly fitted shopfront, large fitted kitchen with kitchen air extraction, plaster and painted walls, exposed brickwork, timber flooring and wc. We understand that the restaurant seats approx. 40 customers. There is a small basement storeroom, staff changing area and wine cellar with direct access from the restaurant. The tenant pays a current rent of €25,000 p.a. under a long term Lease that is due to expire in 2040. A copy of the Lease and full breakdown of rental payments are available upon application

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BER Details

SI_666

Statistics

17/05/2022

Entered/Renewed

2,528

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Daft ID: 58588887

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Robert Colleran

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