US-headquartered real estate investor and private lending firm Grand Coast Capital (GCC) is seeking €3.5 million through agent Cushman & Wakefield for number 13 Trinity Street, a ready-to-go hostel development site in the heart of Dublin 2.
Located at the junction of Andrew’s Lane and Trinity Street, the property comprises a part-two-storey, part-four-storey building extending to 776sq m (8,353sq ft) over basement level. While the outdoor-clothing brand Trespass currently occupies part of the ground floor under the terms of a licence agreement generating €36,000 per annum plus 10 per cent of annual turnover, vacant possession is available at short notice.
Planning permission was granted by Dublin City Council in November 2023 for the development of a 30-bedroom hostel comprising 198 bed spaces. The permission allows for a refurbishment of the existing four-storey building with the addition of a new eight-storey over basement building to the rear of the site. The hostel’s bedroom sizes range between 10sq m and 50sq m (108sq ft and 540sq ft), with typical hostel facilities located at ground and basement level. The permission also provides for a standalone bar and restaurant area with seating for 63 customers. This element of the scheme could be operated by the hostel owner themselves or leased to a third party.
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While the property was originally offered to the market early last year at a higher guide price of €4 million, it was withdrawn from sale pending the resolution of a fire-compliance issue with the planning grant. An application to amend the current grant was lodged and full consent has now been granted for this amendment to the planning permission, with all compliance issues resolved.
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Number 13 Trinity Street occupies a prime location in Dublin’s south city centre. The subject property is situated within a short walk of several of the city’s most popular areas and visitor attractions including Grafton Street, Temple Bar, Trinity College and the Guinness Storehouse.
