Published Date: 16/10/2024

TIM O’BRIEN

 

Number One Wellington Quay is a landmark, four-storey over basement office building overlooking the Liffey at the corner of Parliament Street in Dublin 2.

 

The well-presented period building at the western end of Temple Bar is currently home to the exceedingly hip Music Café, which occupies the basement and ground floor.  The next two floors are bright open-plan offices with high ceilings and windows overlooking the Liffey and Parliament Street.  These floors are currently let to a firm of solicitors. 

 

The top floor, with an atrium-style roof light on the corner, has recently become vacant, but could be re-let either as offices, or as a cool pad for someone who enjoys city centre bustle day and night.

 

In all, the building enjoys 11 metres of frontage on to Wellington Quay and six metres on Parliament Street, offering a floor area of 192 sq.m. (2,055 sq.ft.).  It is being brought to the market by Finnegan Menton, which is quoting €950,000 for the freehold.

 

The property is currently generating rental income of €55,500 annually with a fixed uplift to €58,000 from May 2026.  The Music Café holds a 10 year lease from May 2019 at a passing rent of €31,500 annually, increasing to €33,000 in May 2026.  First and second floor offices are let on a 10 year lease from November 2017 at a passing rent of €24,000 annually.  When fully let, the property is expected to produce a total rental income in the region of €70,000 annually.

 

The sale is being handled by Nicholas Corson and Emma Byrne of Finnegan Menton.

THE IRISH TIMES 

Wednesday, October 16, 2024.