A significant portfolio of city centre properties is set to come to auction over the coming weeks, with a combined value of more than €12 million, offering investors some key investment redevelopment opportunities.
The properties, which are to go to auction in November, are being marketed by Knight Frank, with five of the six located in some of the most commercially-vibrant and varied areas in Dublin 1. The sixth asset is located within the prime Harcourt Street area of Dublin 2.
According to Knight Frank, the properties offer “a wide and varied gamut of genuine value-add investment and development opportunities that should appeal to those who have the expertise and platforms to realise what could be substantial returns on investment given the locations in question”.
The collection offers a broad spectrum of asset management and value enhancement opportunities to include, retail, restaurants, offices, hotel, hostel, residential and even a pub. They include:
Two restaurants, a retail/cafe unit and six residential units at 38/39 Abbey Street Upper and 20 Liffey Street Lower. The area is one of the busiest city pedestrian routes connecting Dublin's Henry Street retail district to Temple Bar via The Ha'Penny Bridge, and benefits from direct access to the Red Line Luas. The entire area extends to about 1,054.6sq m, and there is full planning permission in place for an 86-bed hostel. The portfolio is guiding in excess of €2.5 million.
A terraced three-bay, five-storey commercial building over basement at 72 Middle Abbey Street . The property comprises an attractive building in close proximity to O'Connell Street and stands as a partially stripped out unit, with the roof, floors and external envelope retained. The property has an active planning permission for a 17-bedroom hotel with a penthouse suite granted. The guide is in excess €750,000 at auction.
A four-storey over basement property comprising two commercial units at 58/59 Middle Abbey Street . Included are seven spacious apartment units on the upper floors with independent access. Knight Frank is guiding excess €2.5 million at auction.The location is one of the most vibrant commercial areas in Dublin city centre, sitting immediately adjacent to Henry Street/O'Connell Street retail district
Two mixed use, four storey over basement buildings with a shopfront at ground floor at 119 & 120 Capel Street.
The property consists of a sizable restaurant at ground floor, with basement storage. The remaining upper floors provide for office accommodation with independent access. The property extends to approximately 464.2sq m (4,997sq ft). The upper floors are accessed via the main central staircase from the ground floor.
Ground floor and part basement is let to a Korean restaurant and the upper-floor offices are majority let to the Simon Community. Current annual contracted rent is €69,364 over three tenancies. The agents are guiding excess €1 million at auction.
A waterfront Dublin city centre hotel at 10-11 Eden Quay and 12 Harbour Court. The property comprises a superb waterfront hotel with 30 rooms, bar and night club opportunity. Located on Eden Quay, overlooking the river Liffey close to O'Connell Bridge, the property is ideally located for visitors to Dublin. The ground and first floor of number 10 comprises the Clifton Court Bar. Number 11 includes a ground-floor pub trading as Lanigan's Bar. Both are connected at ground floor. Knight Frank is quoting an auction guide of in excess of €3 million.
A four-storey over-basement, mid-terraced, mixed-use, Georgian building. At 10 Harcourt Street with numbers 10 and 11 Montague Lane – a three -storey warehouse to the rear. The Georgian building is mixed use in nature with the ground floor comprising a vacant cafe/restaurant unit with a kitchen to the rear.
Planning permission has been granted for the full demolition of the existing warehouse structure at 10/11 Montague Lane and the construction of a new three-storey over-basement office development extending to 947.2sq m. The agent is guiding in excess of €2.6 million at auction.
