Prime Investment Opportunity in the heart of Dublin 2
Murphy Mulhall are quoting in excess €3.5 million for the superb 25 Merrion Square and 25 Denzille Lane, Dublin 2.
We are delighted to bring this excellent investment to the market which comprises a five storey over basement Georgian building with modern mews to the rear which is very well located on the northern side of Merrion Square and extends to approx. 809.09 sq.m (8,709 sq.ft) (NIA).
The property has a rent roll of €212,722 per annum (One new lease with existing tenant at Heads of Terms stage) with undoubted potential to add to that with the imminent letting of the mews at 25 Denzille Lane which is currently vacant and there are a number of upcoming rent reviews in the short – medium term. The property is in excellent condition throughout and has been well maintained. Tenants include DLS Capital Management, The Reputations Agency, Tech Skills, Resources and Astec Global.
A generous provision of 17 car parking spaces is provided to the rear and accessed via security gates from Denzille Lane.
Merrion Square is one of the most sought after locations in the heart of Dublin city centre with an unrivalled array of amenities including Merrion Square Park, St. Stephens Green, Merrion Hotel, Dail Eireann and the recently upgraded National History Museum. There are numerous public transport links in the area with the LUAS and DART within a few minutes’ walk and a regular Dublin bus services from the immediate area.
The property was on the market just over 12 months ago and following various asset management initiatives including renegotiation of some existing tenancies resulting in an increased rent roll, the property is now being re-launched and will be a more attractive proposition for potential purchasers.
Brian Gaffney of Murphy Mulhall said “this opportunity will give purchasers the chance to acquire a landmark property with undoubted potential to add to the existing rental income through additional lettings and upcoming reviews. We expect there will be extensive interest in property from a variety of investor groups and individuals”.