6
BER Exempt FOR SALE PRIME GEORGIAN MIXED-USE INVESTMENT OPPORTUNITY FITZWILLIAM STREET UPPER DUBLIN 2 17-19
BER Exempt
FOR SALEPRIME GEORGIAN MIXED-USEINVESTMENT OPPORTUNITY
FITZWILLIAM STREET UPPERDUBLIN 2
17-19
ST STEPHEN’SGREEN
FITZWILLIAMSQUARE
LUAS
LUAS LUAS
LUAS
MERRION SQUARE
SOUTH DOCKSTREET PARK
R I V E R L I F F E Y
R i v e r L if f e yR i v e r L if f e y
IVEAGHGARDENS
HERBERTPARK
TRINITY COLLEGE
BUSSTATION
CUSTOMHOUSE
CONNOLLYSTATION
TARA STREETSTATION
PEARSE STREETSTATION
GRAND CANALDOCK STATION
DUBLINESTATE
LANSDOWNE ROADSTATION
SANDYMOUNTSTATION
G R A N DC A N A L
R I V E R L I F F E Y
1
6
2
3
5
4
MESPIL ROADWILTON TERRACE
HERBE
RT PL
ACE
GRAND PARADE
CANAL RD
CHARLEMONT RD
GROVE RD
ADELAIDE RD
HADDINGTON ROAD
BATH AVENUE
TRITONVILLE ROAD
SHELBOURNE ROAD
O'CONNELL STREET
LWR BAGGOT ST.
PEMBROKE ROAD
SUSSEX ROAD
CAMDEN ST UPR
HARCOURT ST
HATCH ST
CAMDEN ST LW
R
CUFFE ST
AUNG
IER
STRE
ET
LOWER MOUNT ST.
LOWER GRAND CANAL ST
HANOVER QUAY
BENS
ON
STRE
ET
GRAN
D CA
NAL
QUAY
CITY QUAY
GEORGE'S QUAY
CUSTOM HOUSE QUAY
ASTON QUAY
BURGH QUAY
EDEN QUAY
BACHELORS WALK
PARNELL ST
WELLINGTON QUAY
ORMOND QUAY LOWER
WOOD QUAY ESSEX QUAY
MERCHANTS QUAY
INN'S QUAY
CLAN
BRAS
SIL
ST
PATR
ICK
STRE
ET
FRANCES STREET
SOUTH CIRCULAR ROAD
ST STEPHENS GREEN SOUTH
ST STEPHENS GREEN NORTH
PEARSE STREET
PEARSE STREET
PEARSE STREET
MAC
KEN
STRE
ETGU
ILD
STRE
ET
SIR JOHN ROGERSON’S QUAYSIR JOHN ROGERSON’S QUAY
TOWNSEND STREET
ABBEY ST LOWER
ABBEY ST MIDDLE
ABBEY ST UPPER
CAPEL STREET
MARY STREET
HENRY STREET
AMIE
NS S
TREE
T
MERRION SQUARE S
MERRION SQUARE N
BAGGOT STREET
MER
RION
ST
UPR
KILD
ARE
STRE
ET
DAW
SON
STRE
ET
FENIAN ST
GRAF
TON
STRE
ET
DAME ST
MARLBOROUGH ST
GARDINER ST LOWER
TARA STREET
ST S
TEPH
ENS
GREE
N EA
ST
BARR
OW
STR
EET
EAST
WAL
L RO
AD
LEESON STREET LOWER
ORMOND QUAY
AVIVASTADIUM
Shelbourne ParkGreyhound
Stadium
BORD GÁISTHEATRE
3Arena
D'OLIER ST
Bus Routes
TRANS-Luas Lines Train Sta- Dublin Bike Taxi Ranks
FITZWILLIAM STREET UPPER17-19
PROPERTY OVERVIEW
A GREAT LOCATION
Prime Georgian mixed use investment opportunity
Situated in the heart of Georgian
Dublin
Mix of office, medical and residential use
throughout extending to approx. 1,103.61 sq m
(11,879 sq ft)
Commercial WAULT of 1.4 years to break and
1.9 years to expiry (as at 14/09/2018)
Total passing rent of €227,500 per annum
from 10 tenancies
Long Leasehold Title
Available individually or as part of a portfolio
Offers sought in excess of €4,300,000 reflecting a NIY
of 4.88% after standard acquisition costs of 8.46%
3.1
Shelbourne Hotel
Fitzwilliam Square
Merrion Square
Grafton Street
Luas Line
St. Stephen’s Green
FITZWILLIAM STREET UPPER17-19
ST STEPHEN’SGREEN
FITZWILLIAMSQUARE
LUAS
LUAS LUAS
LUAS
MERRION SQUARE
SOUTH DOCKSTREET PARK
R I V E R L I F F E Y
R i v e r L if f e yR i v e r L if f e y
IVEAGHGARDENS
HERBERTPARK
TRINITY COLLEGE
BUSSTATION
CUSTOMHOUSE
CONNOLLYSTATION
TARA STREETSTATION
PEARSE STREETSTATION
GRAND CANALDOCK STATION
DUBLINESTATE
LANSDOWNE ROADSTATION
SANDYMOUNTSTATION
G R A N DC A N A L
R I V E R L I F F E Y
1
6
2
3
5
4
MESPIL ROADWILTON TERRACE
HERBE
RT PL
ACE
GRAND PARADE
CANAL RD
CHARLEMONT RD
GROVE RD
ADELAIDE RD
HADDINGTON ROAD
BATH AVENUE
TRITONVILLE ROAD
SHELBOURNE ROAD
O'CONNELL STREET
LWR BAGGOT ST.
PEMBROKE ROAD
SUSSEX ROAD
CAMDEN ST UPR
HARCOURT ST
HATCH ST
CAMDEN ST LW
R
CUFFE ST
AUNG
IER
STRE
ET
LOWER MOUNT ST.
LOWER GRAND CANAL ST
HANOVER QUAY
BENS
ON
STRE
ET
GRAN
D CA
NAL
QUAY
CITY QUAY
GEORGE'S QUAY
CUSTOM HOUSE QUAY
ASTON QUAY
BURGH QUAY
EDEN QUAY
BACHELORS WALK
PARNELL ST
WELLINGTON QUAY
ORMOND QUAY LOWER
WOOD QUAY ESSEX QUAY
MERCHANTS QUAY
INN'S QUAY
CLAN
BRAS
SIL
ST
PATR
ICK
STRE
ET
FRANCES STREET
SOUTH CIRCULAR ROAD
ST STEPHENS GREEN SOUTH
ST STEPHENS GREEN NORTH
PEARSE STREET
PEARSE STREET
PEARSE STREET
MAC
KEN
STRE
ETGU
ILD
STRE
ET
SIR JOHN ROGERSON’S QUAYSIR JOHN ROGERSON’S QUAY
TOWNSEND STREET
ABBEY ST LOWER
ABBEY ST MIDDLE
ABBEY ST UPPER
CAPEL STREET
MARY STREET
HENRY STREET
AMIE
NS S
TREE
T
MERRION SQUARE S
MERRION SQUARE N
BAGGOT STREET
MER
RION
ST
UPR
KILD
ARE
STRE
ET
DAW
SON
STRE
ET
FENIAN ST
GRAF
TON
STRE
ET
DAME ST
MARLBOROUGH ST
GARDINER ST LOWER
TARA STREET
ST S
TEPH
ENS
GREE
N EA
ST
BARR
OW
STR
EET
EAST
WAL
L RO
AD
LEESON STREET LOWER
ORMOND QUAY
AVIVASTADIUM
Shelbourne ParkGreyhound
Stadium
BORD GÁISTHEATRE
3Arena
D'OLIER ST
Bus Routes
TRANS-Luas Lines Train Sta- Dublin Bike Taxi Ranks
FITZWILLIAM STREET UPPER17-19
A GREAT LOCATION
LOCATION17-19 Fitzwilliam Street Upper is well located within the heart of Georgian Dublin. The property is situated approx. 100 m southeast of St. Stephen’s Green and adjacent to Fitzwilliam Square.
There is an abundance of services and amenities within the immediate vicinity including restaurants, cafes, banks and shops as well as the Burlington, Mespil and Merrion hotels. Nearby occupiers include LinkedIn, The IDA and the Australian Embassy.
The area is well serviced in terms of public transport links. Charlemont LUAS stop (green line) is situated 0.65 km to the south west of the property and Pearse Street DART station is approximately 1.2 km to the north east. Numerous Dublin Bus routes service the area and the 24 hour air coach to and from Dublin Airport has a number of stops in the immediate vicinity. A Dublin Bike docking station is located on Fitzwilliam Square, approximately two minutes’ walk from the property.
THE PROPERTY17-19 UPPER FITZWILLIAM STREET COMPRISES THREE INTERLINKED FOUR STOREY OVER BASEMENT GEORGIAN BUILDINGS EXTENDING TO A TOTAL NET INTERNAL AREA OF APPROXIMATELY 1,103.6 SQ M (11,879 SQ FT) GIA.
The property is currently arranged to provide medical/dentistry use at basement level, dentist surgery (cont.) and office accommodation at ground and first floors and six residential units located across the second and third floors. Internally, the property is in good condition throughout and retains a number of period features including sash windows, coving and cornicing.
The property features prominently on Fitzwilliam Street with frontage of approx. 22 metres to same. Primary access to the property is via Fitzwilliam Street with separate access provided at basement level while there is also a separate access to the rear of the property via Pembroke Lane.
SCHEDULE OF ACCOMMODATION
17-19 FITZWILLIAM STREET UPPER Floor Use Sq M (GIA) Sq Ft (GIA) Sq M (NIA) Sq Ft (NIA)Basement Dentistry 114 1,227 68.5 737Basement* Medical 101.91* 1,097* 101.91 1,097Ground Offices 262.2 2,822 152.3 1,639First Offices 213.3 2,296 166.6 1,793Second Residential 206.7 2,225Third Residential 205.5 2,212 TOTAL 1,103.61 11,879 489.31 5,267
Please note these areas were measured and certified by Malcolm Hollis. A copy of the full report, which is assignable to the purchaser, is available in the online data room.
*Access was not granted to part of the basement for measurement purposes. These areas are NIA, taken from the lease
TENURELong Leasehold. Further information available on request.
PLANNING AND ZONINGThe subject property is zoned Objective Z8 Georgian Conservation Areas which is defined as ‘‘to protect the existing architectural and civic design character, and to allow only for limited expansion consistent with the conservation objective” under the Dublin City Development Plan 2016 – 2022.The property is a listed building on the Dublin City Council Record of Protected Structures.
Tenant(s) Floor Term Lease Start Date
Break Option
Lease Expiry Date
Next Rent Review
Passing Rent (pa )
Use
Paul McEvoyGround floor 17/18 &
Basement of 17 Upper Fitzwilliam Street
10 years 01-Jan-11 31-Dec-20 €40,200 Dentistry
Genesis Homes Limited
Ground floor 19 Upper Fitzwilliam Street
4 years 9 months 01-May-14 31-Jan-19 €22,000 Office
Dr. Danielle Meagher
Basement of 18 & 19 Upper Fitzwilliam
Street 12 years 04-Apr-11 03-Apr-20 03-Apr-23 04-Apr-17 €10,700 Office
Regency Estates Limited
First floor 17 - 19 Upper Fitzwilliam
Street 4 years 9 months 01-Nov-14 31-Jul-19 €40,000 Office
Apartment 4, 18 Fitzwilliam Street Second floor Residential
Tenancy 26/02/2016 €27,600 Residential - 3 Bed
Apartment 5, 18 Fitzwilliam Street Second floor Residential
Tenancy 09/03/2015 €21,600 Residential - 3 Bed
Apartment 6, 18 Fitzwilliam Street Third floor Residential
Tenancy 29/10/2016 €16,800 Residential - 1 Bed
Apartment 7, 18 Fitzwilliam Street Third floor Residential
Tenancy 13/06/2016 €22,200 Residential - 1 Bed
Apartment 8, 18 Fitzwilliam Street Third floor Residential
Tenancy 01/01/2013 €7,800 Residential - 2 Bed
Apartment 9, 18 Fitzwilliam Street Third floor Residential
Tenancy 11/08/2017 €18,600 Residential - 1 Bed
Total €227,500
TENANCYThe below tenancy schedule provides a summary of existing tenancies within the building.
PROPOSALOffers sought in excess of €4,300,000 reflecting a Net Initial Yield of 4.88% after the deduction of standard acquisition costs of 8.46%
VATFurther information upon request.
BER BER Exempt.
VIEWINGSBy appointment only.
GARETH MCKEOWN+353 (1) 531 [email protected] No. 003754-006391
DONAL M. GAHAN, Ritchie & Co.36 Baggot Street LowerDublin 2 D02 XE17+353 (1) 6767277Ref: Mr. Joseph Ritchie
BER Exempt
CLIVE ROCHE+353 (1) 639 [email protected] NO: 002222-004568
BRIAN GAFFNEY+353 (1) 531 [email protected] No. 003754-001264
FURTHER INFORMATION
CONTACTS SOLICITORS
FOR SALEPRIME GEORGIAN MIXED-USEINVESTMENT OPPORTUNITY
MARK FITZPATRICK+353 (1) 639 [email protected] No. 002222-006104
Brochure design by
Disclaimer: Conditions to be noted: 1. These particulars do not constitute an offer or contract or any part thereof and none of the statements contained in the particulars as to the property to be relied on as a statement or representation of fact. 2. The vendor does not make or give, nor is the Agent(s) or its staff authorised to make or give any representation or warranty in respect to this property. 3. All descriptions, dimensions, references to condition and necessary permission for use and occupation, and other details are given in good faith and are believed to be correct but any intending purchaser or tenant should not rely on them as statements or representations of fact but must satisfy himself/herself by inspection or otherwise as to the correctness of each of them. 4. In the event of any inconsistency between these particulars and the contract of sale, the latter shall prevail. 5. The terms, Vendor and Purchaser, where the context requires shall be deemed to refer to Lessor and Lessee and Landlord and Tenant respectively. 6. Prices are quoted exclusive of VAT (unless otherwise stated) and the purchaser/lessee shall be liable for any VAT arising on the transaction. 7. The Vendor reserves the right not to accept the highest or any offer made.
FITZWILLIAM STREET UPPERDUBLIN 2
17-19
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