Chez Max restaurant at 133 Lower Baggot Street in Dublin 2 has been sold through agent CBRE to a private investor for close to €2 million.
It is producing a rent roll of €90,000 so this would reflect a net initial yield of about 4.15 per cent and a capital value of 50 per sq ft.
Number 133 came on the market last February at €2.1 million. The three-storey over basement property is on a prominent pitch close to the Baggot/Pembroke Street junction and extends to about 364sq m (3,919sq ft).
‘Good condition’
Ground and basement levels are in use as a restaurant/cafe including functional courtyards. Upper floors are used as ancillary storage/office space and the agent says the property is in “ very good condition throughout”.
This was a receivership sale on behalf of Mazars. Fiona Kennedy of CBRE acted for the vendor and Antoine Xavier of Xestra Asset Management acted for the purchaser.
