67-70 Meath Street, The Bull Ring, Dublin 8


NEW!
For Sale €3,750,000
BER B3

Description

Joint agents Kelly Walsh and QRE are bringing a mixed use investment opportunity to the market on Meath Street in Dublin 8. The ‘Bull Ring’ is a landmark building holding a prominent profile in the heart of the Liberties area of the south inner city.

The well renowned Bull Ring has undergone extensive redevelopment since it was acquired in 2016 to provide a prime three storey mixed use property with three self-contained commercial units at ground floor level and two floors of high specification offices above. The ground floor units range in size from 102 – 119 square metres with the office space extending to 594 square metres. The overall footprint extends to 917 square metres.

The property is part let with one unit at ground floor level let to Tasty 8, a trendy café let on a 10 year lease from 2017 at a rent of €36,000 per annum. The offices are let to EDI Factory Limited t/a Celtrino for a term of 15 years producing an annual rent of €168,500. There is scope to significantly increase rental income by letting the two ground floor units that are expected to generate a further €80,500 per annum which would see a combined annual income of €285,000.

The joint agents are seeking offers in excess of €3.75 million which represents a gross yield of 5.45%. The agents estimate the return would increase to approximately 7.6% when the reversionary potential is fully realised.


Details

  • For Sale €3,750,000
  • Area is Meath Street. Dublin 8 m²

Features

Highlight 1
The Liberties are ideally situated approximately 1km Southwest of the City Centre.

Highlight 2
It is now a center of enterprise, innovation, art, design, leisure, entertainment and commercial life.

Highlight 3
The area is well served by public transport with numerous Dublin Bus routes, Dublin Bike depots and the Red Luas line.

Location

- Meath Street, Dublin 8

mm
Senior Surveyor PSP Licence No: 002885-002887

Bryan joined Kelly Walsh as a Senior Surveyor in 2014. He is a qualified Chartered Surveyor and Registered Valuer.

He has over twelve years’ experience in the Irish Property Industry specialising in General Agency and Property Management. During his career to date Bryan has held positions in the Private Residential Tenancy Board, Wyse Property Management and McNally Handy.

Bryan has extensive experience in valuing all asset classes.

Bryan holds a Bachelor of Science in Auctioneering, Valuations and Estate Agency and a Bachelor of Science Honours Degree in Property Studies, both from Bolton Street. He is a member of the Society of Chartered Surveyors Ireland and the Royal Institution of Chartered Surveyors.