Ray Cooke Auctioneers are delighted to present to the market an opportunity to purchase this excellent 3 storey over basement mixed commercial/residential investment property located in the heart of Dublin City.
Situated on Richmond Street, Dublin 2, This mid terraced property c. 233.57 sq. m in size and comprises of a ground floor retail unit with WC that is currently occupied by a well-established barbershop. There is also a separate entrance, hallway and stairs access to two 2-bedroom 1-WC apartments on the first and second floor, and a storage area on the basement floor. The apartments and commercial unit are currently occupied and are generating a total passing rent of €63,540.00 per annum at present which equates to an approximate net initial yield of approx. 7.3% assuming standard purchasers costs at 9.96%.
The full details of the rent are as follows.
Apt no 1 – €21,588 pa, rent review due on 12 September 2025
Apt no 2 – €20, 952pa, rent review due on 4 April 2025
Ground floor shop – 15-year lease from 28 August 2020 with rent reviews every 5 years. The terms agreed are as follows.
year 1 – €17,000 pa
year 2 and year 3 – €20, 000pa
year 4 and year 5 – €21, 000pa
Location
The apartment is ideally within short walking distance to the City Centre and has numerous bus routes servicing all parts of the city passing outside the front door. the nearest LUAS Stop (Harcourt LUAS Stop) is just a few minute’s walk from the building and is approx. 15 minute’s walk from Grafton Street and St. Stephen’s Green, one of Dublin’s busiest shopping districts.
Features
Excellent Location
Close to City Centre
Net Initial Yield of c. 7.3%
Viewings strictly by appointment only
Contact Ray Cooke Commercial today for a viewing
