Grattan House, 1 Wellington Quay, Temple Bar, Dublin 2

High profile investment

192 sq.m (2,066 sq.ft) net floor area

Guide Price €950,000

Freehold

Tenants not affected

DESCRIPTION:
No. 1 Wellington Quay comprising an imposing four-storey over basement period building extending to a net internal area of approximately 192 sq.m (2,066 sq.ft). The accommodation comprises a retail unit on the ground floor and basement together with three self-contained offices on the first, second and third floors. The property has 11.0m frontage on Wellington Quay and 4.0m frontage on Parliament Street. This is a unique period building which has retained its Georgian characteristics and charming ornate details.

The property is generating a total rental income of €55,500 per annum with a fixed uplift to €57,000 per annum from May 2026. The ground floor and basement is let to Il Momento Caffe Ltd. t/a The Music Café Dublin on a 10 year lease from May 2019 at a passing rent of €31,500 per annum increasing to €33,000 in May 2026. First and second floor offices are let to Martin Maloney Solicitor on a 10 year lease from November 2017 at a passing rent of €24,000 per annum. The third floor is vacant allowing for further income potential and could alternatively be considered for conversion to an apartment (SPP).

LOCATION:
No. 1 Wellington Quay is ideally situated in the heart of the City Centre overlooking the River Liffey at the western end of Temple Bar. The property occupies a high profile corner position on the South Quays located at the corner of Wellington Quay and Parliament Street, directly opposite Grattan Bridge and close to well known establishments including The Clarence Hotel, The Workmans Club and the Turks Head.

The location is serviced by excellent public transport links and is within 550m of the Luas Red Line at the Four Courts Luas Stop which links with both mainline rail stations at Heuston Station and Connolly Station and are both within walking distance of the property. There are numerous bus networks that are accessible on Wellington Quay as well as Dublin Bike services allowing for easy accessibility to all areas of Dublin City.

Guide price of €950,000 would reflect a net initial investment yield of 5.3% after standard purchaser's costs increasing to in the region of 6.7% when fully let. There is potential for future rental growth, when fully let the property is expected to produce a total rental income in the region of €70,000 per annum.

Viewing by appointment only with sole agents Finnegan Menton. Contact Emma Byrne on (01) 614 7900.