Investment in Dublin docks at 1.8 million euros

Agent Savills is offering a price of 1.8 million euros for a business investment comprising four ground floor units in Dublin‘s South Docks.

Located at Hanover Quay in Grand Canal Dock, the “Waterfront” investment is put up for sale fully leased and generates a combined rental income of € 93,000 per year with a fixed increase in rents to € 109,500 from April 2022.

Unit 1 is rented from Pause Cafe subject to a transitional rent of € 15,000 per year.

The lease for unit 2 was renewed in April this year by Realm Concepts / Bulthaup for a further period of 15 years and is subject to a transitional rent of € 28,000 with fixed increases up to a nominal rent the fifth. year of € 30,000.

Mixed-use development

Likewise, the lease covering both units 3 and 4 was renewed by long-term occupant Minima Home for a further 15-year term from April of this year, subject to a transitional rent of € 50,000 with a flat-rate increase to € 65,000 from April 2022..

The units occupy the entire ground floor of The Waterfront, a mixed-use development on Hanover Quay and directly overlooking the Grand Canal Dock. Nearby occupants include Facebook, Twitter, Airbnb, The Marker Hotel, and the Bord Gáis Energy Theater.

Stephen McCarthy of Savills is planning € 1.8 million for the entire investment which spans 336 m² (3,628 square feet) and includes four secure underground parking lots, three of which are available for rent and offer the possibility of further increasing the rental yield. The seller will also consider selling the units individually.

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