No 7 D’Olier Street, a fully let building, which was completely renovated in 2015, comprises of a five storey over basement mid terrace period property. The property incorporates retail use at ground floor level together with an office, storage facilities, a kitchenette and toilet facilities located at basement level.
The ground floor retail has excellent display frontage on to D’Olier Street, one of Dublins premier streets and is just 50 meters from O Connell Bridge. The upper floors are of office use and are divided into two to three offices per floor. They are bright, spacious and airy and benefit from excellent natural light coming into the well-lit hallway and stairwells throughout the building.
The third floor accommodates a tea station and has ladies and gents toilet facilities with the fourth floor in use as offices. The offices benefit from a mix of Georgian period features and modern specification to include newly renovated and decorated plaster and painted walls and ceilings, suspended tube fluorescent lighting and carpeted flooring. A new roof was fitted on the building in 2016.
The property is listed as a protected building in the record of Protected Structures and D Olier Street and is within an architectural conservation area under the Dublin City Development Plan.
The accommodation comprises the following approximate net internal areas:
Ground Floor Retail – 84 Sq. Mtr 900 Sq. Ft
Basement – 48 Sq. Mtr 521 Sq. Ft
First Floor Offices – 59 Sq. Mtr 631 Sq. Ft
Second Floor Offices – 59 Sq. Mtr 635 Sq. Ft
Third Floor Offices – 33 Sq. Mtr 360 Sq. Ft
Fourth Floor Offices/Storage – 60 Sq. Mtr 646 Sq. Ft
Total: – 343 Sq. Mtr – 3,691 Sq. Ft
D’Olier Street is an excellent city centre location linking O’ Connell Street, Dublin’ s principal thoroughfare on the north side of the city, to Pearse Street and College Green/Grafton Street on the south side. The cross city LUAS runs parallel to D Olier on Westmoreland Street which is only a two-minute walk away and Tara Street DART station is within a 5-minute walk.
Dublin City Council plan to make D’Olier Street a two-way road which will benefit the retail operators on the street. There are numerous bus termini located on the street adding further to pedestrian footfall and profile.
The property enjoys a prominent position in this well-established location providing excellent amenities including hotels, restaurants, bars, banks and cafes to cater for all staff and client needs. Notable occupiers in the immediate vicinity include: Trinity College, The Times Building, The Gas Café, Starbucks, Spar and The Westin Hotel.
The current rent is €70,000 per annum and in our opinion the reversionary rent is €108,000 per annum. Further details upon request. The investment derives a net initial yield of 4.55%, a reversionary yield of 7.03% and an equivalent yield of 6.6% after standard purchase costs of 9.92% (stamp duty, legal fees, agent fees and VAT).
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