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For sale by Keane Thompson Estate Agents via the iamsold Bidding Platform
Please note this property will be offered by online auction (unless sold prior). For auction date and time please visit iamsold.ie. Vendors may decide to accept pre-auction bids so please register your interest with us to avoid disappointment.
We introduce to the market this substantial and imposing five storey over basement Georgian building positioned in a most prime City Centre location. Rarely do properties of this stature and location come to the market and this property is sure to attract considerable interest from both home and abroad. Westmoreland street is the primary pedestrian route linking the retail hubs of both Grafton Street and O Connell Street, benefiting from huge numbers of passing customer footfall as they travel to St Stephens Green, Ilac and Jervis Shopping Centre.
The property expands to a generous c.590 sq.m (GIA) and is laid out in spacious and well-proportioned accommodation. Currently comprising of basement, ground floor retail & first floor retail with the upper four floors providing a selection of large open plan and smaller office rooms. This impressive property is presented in good order throughout and has retained some of its original features including high ceilings and sash windows which are synonymous with properties of this calibre.
Currently fully let and producing €190,000 per annum, this property will appeal to investors seeking a substantial property with a superb return and potential for significant increased capital appreciation in one of the most sought-after prime locations in Dublin City Centre.
Location
The convenience of this location cannot be overstated. Westmoreland street adjoins College Green, home to prolific and international retailers H&M, American Apparel and Abercrombie & Fitch. Temple Bar, a Dublin tourist destination is located just around the corner with numerous cafes, bars, and restaurants. There is an abundance of public transport options available to the area with the Westmoreland Street LUAS stop just outside building, many bus routes passing by the premises and Tara Street DART station a five-minute walk away.
Accommodation c. 590 sq.m (6,350.64 sq.ft) GIA
Please refer to floor plans for room dimensions
Schedule of Areas:
Retail c.237 .sq.m (GIA):
Currently let to Good World Chinese and laid out as restaurant, as follows:
Basement: c.83 sq.m
Fully fitted kitchen with cold rooms, WCs.
Ground Floor: c.99 sq.m
Laid out as fully fitted restaurant.
Mezzanine: 55 c.sq.m
Restaurant dining area.
Offices c. 353 sq.m (GIA):
Currently let to English Hour, as follows;
1st Floor: c.115 sq.m
Reception area, open to large open plan office, male & female WCs, carpet flooring.
2nd Floor: c.71 sq.m
Two large spacious rooms to front and rear, wood flooring.
3rd Floor: c.71 sq.m
Two large spacious rooms to front and rear, carpet flooring.
Top Floor: c. 68 sq.m
Two large spacious rooms to front and rear, carpet flooring, bathroom, leading to top floor kitchenette.
Lease Terms:
Retail:
Good World Chinese: current rent roll €100,000, 20-year lease with 5 yearly reviews from October 2019.
Upper floor offices:
English Hour: Current rent roll €90,000, 15-year lease with 5 yearly reviews from July 2019.
Features / Services
Potential for substantial increased capital appreciation.
Impressive property located one of Dublins most sought after locations.
Prime city centre location, walking distance from Dublins principle places of business.
Walking distance to Grafton Street, St. Stephen’s Green, Harcourt Street, Trinity college and all amenities Dublin’s city centre has to offer.
Luas stop outside front of building.
Current rent roll €190,000 per annum.
BER C / BER No. 800967473
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https://youtu.be/w_FN7EzaXBM?feature=shared
TO VIEW OR MAKE A BID Contact Keane Thompson Estate Agents or iamsold, www.iamsold.ie
*Please note all properties are subject to a starting bids price and an undisclosed reserve. Both the starting bid and reserve price may be subject to change. Terms and conditions apply to the auction, which is powered by IAM Sold Property Auctions.
This property is offered for sale by unconditional auction. The successful bidder is required to pay a 10% deposit and contracts are signed immediately on acceptance of a bid. Please note this property is subject to an undisclosed reserve price. Terms and conditions apply to this sale.
Building Energy Ratings (BERs) give information on how to make your property more energy efficient and reduce your energy costs. All properties bought, sold or rented require an BER. BERs carry ratings that compare the current energy efficiency and estimated costs of energy use with potential figures that your property could achieve. Potential figures are calculated by estimating what the energy efficiency and energy costs could be if energy saving measures were put in place. The rating measures the energy efficiency of your home using a grade from ‘A’ to ‘G’. An ‘A’ rating is the most efficient, while ‘G’ is the least efficient. The average efficiency grade to date is ‘D’. All properties are measured using the same calculations, so you can compare the energy efficiency of different properties.
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A non-refundable contract deposit of 10% (minimum deposit of €6,500.00) is required to be paid by the successful bidder for this property.
A Bidder Security Deposit of €4,500.00 is required to be pre-authorised from the bidders debit or credit card through the payment facilities on the auction website when registering to bid. A bidder has also the option of transferring the minimum deposit amount by bank transfer to iamsold's client account to authorise them to bid on the Online Auction (please note, this option may take several days).
The pre-authorisation amount will only be captured from the successful bidder on acceptance of their bid. This will form part of the non-refundable part payment contract deposit.
Any balance of the full contract deposit must be paid by the successful bidder to iamsold within 48 hours of acceptance of their bid. The deposit balance can be paid by debit/credit card, or same day bank transfer to iamsold's client account.
All unsuccessful bidders will have their pre-authorisations released OR their bank transfer refunded within 5 working days of conclusion of an auction or withdrawal of the Lot from the Online Auction.
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These particulars, whilst believed to be accurate are set out as a general outline only for guidance and do not constitute any part of an offer or contract. Intending purchasers should not rely on them as statements or representation of fact, but must satisfy themselves by inspection, measurement or otherwise as to their accuracy. No person in this firms employment has the authority to make or give any representation or warranty in respect of the property. Properties may be sold via online auction or public auction and bids made prior to public auction may be accepted by the vendors. IAM Sold and our partner auctioneer will share relevant personal information and transactional updates with each other so that we can effectively market and sell properties including the arrangement of viewings and follow up.
