28 South William Street, South City Centre, Dublin 2

€2,200,000

Description

South William Street is one of Dublin’s most popular and fashionable streets with an eclectic mix of shops, restaurants, bars and services. Parallel with Grafton Street and Clarendon Street, South William Street is one of the city’s most vibrant locations with Powerscourt Town House long-established as a prime fashion centre. South William Street is at the heart of an area designated Dublin’s Creative Quarter.

No. 28 is a fine Georgian town house with a net internal area of c. 370 sq.m. / 3,980 sq.ft set out in four storeys over basement in the traditional manner. It is a protected structure (Reg. No. 8579) and retains many original features including ornate cornices, ceiling centre pieces, stairs and fireplaces.

The hall floor is occupied by Tropical Popical nail bar and the upper three floors are occupied by the Dublin Holistic Centre. The basement has own-door access from the street and is occupied by Starla Boutique.

The combined passing rent of €157,000 represents a significant and appealing investment opportunity with excellent reversionary potential on a street with proven tenant appeal.

Allowing for standard acquisition and property management costs, the asking price of €2.2m reflects a net investment yield of 6.2% representing excellent value in such an appealing location.


Tenancy Details:

Hall Floor: Tropical Popical Ltd. 5 years from 5th August 2017. €55,000 per annum for the first three years and €60,000 for the fourth and fifth years.

First, Second and Third Floors: Helen McMeel. (T/A Dublin Holistic Centre). 5 years from 7th November 2018. €65,000 per annum (renewal of previous lease).

Basement: Runway Fashions Ltd. (T/A Starla Boutique) 5 years from 1st June 2017. €35,000 per annum.

WAULT is 4.24

Viewing: Strictly by appointment.

Features

Excellent investment opportunity in prime location.

BER Details

BER: Exempt

Accommodation

Approximate net internal areas are as follows:

Hall Floor 64.74 sq.m. / 697 sq.ft
First Floor 75.61 sq.m. / 814 sq.ft.
Second Floor 79.25 sq.m. / 853 sq.ft.
Third Floor 66.47 sq.m. / 715 sq.ft.
Basement 83.57 sq.m. / 900 sq.ft.
Total 370 sq.m. / 3,980 sq.ft.