Lot 233 43 Leeson Street Lower, Dublin 2, D02 EH10

Bidding opens in

00

DAYS

00

HOURS

00

MINS

00

SEC

Property Enquiries

Thomas O'Dowd

thomas.odowd@bidx1.com
+353 (0)1 566 8378 / +353 (0)86 773 6905

Viewing/Registration Enquiries

BidX1 Support Team

info@ie.bidx1.com
+353 (0) 1 667 3388

Vendor Solicitor

Lorraine McDermott

l.mcdermott@beauchamps.ie
+353 (0) 1 418 0632
Description
Map
Viewings

Property Summary
  • A prominent Georgian office investment.
  • Comprising office accommodation over 5 floors.
  • Extending to approximately 367 sq. m (3,954 sq. ft) NIA in total.
  • Let to Champlain College Dublin Limited.
  • Lease expiry 2028.
  • Prime Georgian office location within Dublin's CBD.
  • Total contracted rent €145,000 per annum.
  • Abated rent €90,000 per annum.*
  • Net initial yield 5.45%.
  • Please note we are in the process of arranging viewings for this property. Please contact thomas.odowd@bidx1.com for further information. 
Location
  • Dublin 2 forms Dublins central business and retail district.
  • The district houses many of the citys landmarks including St. Stephens Green, Grafton Street, Trinity College and The Shelbourne Hotel.
  • Transport links towards the city centre include The LUAS together with several bus routes and Grand Canal Dock Train Station.
  • The subject property is situated on the western side of Leeson Street at the junction of Hatch Street and Adelaide Road.
  • Surrounding occupiers include The Institute of Education, Office of the Ombudsman and GE Capital.
Description

The property is arranged over basement, ground and three upper floors to provide a mid terrace Georgian office building of traditional construction. Internally the property comprises office accommodation currently in use as a college with classrooms, offices, toilets and ancillary services throughout. The property was refurbished to a high standard in c. 2008.

Accommodation

Tenancy

The entire property is at present let to Champlain College Dublin Limited for a term of 20 years from 08.08.2008 at a contractual rent of €145,000 per annum. The lease provides for rent reviews every fifth year, a tenant break option in August 2023, and contains internal repairing and insuring covenants. There is currently an outstanding rent review dated August 2018.

*Please note the rent has been abated to €90,000 per annum by way of a side letter and we have been informed by the Vendor that the tenant is currently paying a portion of the abated rent. Please refer to the legal documents for further information.

VAT
Please refer to Legal Documents
Property Table
FloorSq.mSq. ft
Basement / Garden Level93.54 sq. m(1,007 sq. ft)
Ground55.52 sq. m(598 sq. ft)
First81.83 sq. m(881 sq. ft)
Second61.24 sq. m(659 sq. ft)
Third75.25 sq. m(810 sq. ft)
Total367.38 sq. m(3,954 sq. ft)

 

BER Details

We have been informed by the Vendor that this property is BER exempt.


No information, statement, description, quantity or measurement contained in any sales particulars or given orally or contained in any webpage, brochure, catalogue, email, letter, report, docket or hand out issued by or on behalf of BidX1 or the vendor in respect of the property shall constitute a representation or a condition or a warranty on behalf of BidX1 or the vendor. Any information, statement, description, quantity or measurement so given or contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the vendor are for illustration purposes only and are not to be taken as matters of fact. Any mistake, omission, inaccuracy or mis-description given orally or contained in any sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the vendor shall not give rise to any right of action, claim, entitlement or compensation against BidX1 or the vendor. All bidders must satisfy themselves by carrying out their own independent due diligence, inspections or otherwise as to the correctness of any and all of the information, statements, descriptions, quantity or measurements contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the vendor.


Contact Thomas about this property