An interesting investment opportunity will arise shortly beside the National Concert Hall in Dublin when a mixed office and residential property goes for sale by private treaty.
Joint agents DTZ Sherry FitzGerald and Sherry Fitzgerald Residential are quoting a price of €3 million for the Victorian building at the corner of Earlsfort Terrace and Adelaide Road.
It has three floors of offices and four large apartments on the two upper floors. All of them are vacant after being refurbished.
The high profile building is owned by a firm of solicitors which plans to vacate the 169.5 sq m (1,825 sq ft) on the ground floor and basement. The first floor is let to Environmental Resources Management until July 2005 at a rent of just under €40,000 per annum. The entire building has recently been upgraded and original features restored.
Maurice O'Neill of DTZ Sherry FitzGerald says it expects strong interest in the landmark building because of the quality of the investment and the good potential to increase the rental income.
The apartments would also be attractive to the professional letting market because of the central location beside a range of offices and their close proximity to St Stephen's Green and Grafton Street.
There are two one-bedroom apartments each with a floor area of 46.4 sq m (500 sq ft) and two two-bed units with about 83.6 sq m (900 sq ft).
