A prime mixed-use investment property located at the heart of Dublin city centre’s historic Georgian core is expected to attract interest at a modest guide price of €2.75 million.
While numbers 58 Fitzwilliam Square and the adjoining 58 Pembroke Lane have a substantial, combined footprint of 934sq m (10,053sq ft), they will both require significant refurbishment from the prospective purchaser.
Located on Fitzwilliam Square North and within a short walk of Baggot Street, St Stephen’s Green and Grafton Street, the subject property is tenanted by a mix of office and residential occupiers.
Number 58 Fitzwilliam Square comprises a four-storey over-basement, mid-terrace Georgian building with a stepped access to the front. The property is a mix of commercial and residential accommodation and is laid out as four apartments with commercial accommodation on four floors. The basement has two residential apartments with the ground, first, second and third floors providing commercial accommodation. There is also a one-bed apartment to the rear of the ground floor and a three-bed apartment on the third floor.
The property maintains a number of its original cornicing features with high ceilings throughout. It extends to 671.6sq m and is listed as a protected structure under the Dublin City Council Development Plan 2016-2022.
Number 58 Pembroke Lane is located to the rear of 58 Fitzwilliam Square on Pembroke Lane. A two-storey mid-terrace building extending to 263sq m, the property comprises four bedsits, two of which are located on the ground floor with the remaining two on the first floor. There is also a yard area to the front of the property which could provide parking. A substantial garden located between 58 Fitzwilliam Square and 58 Pembroke Lane offers the potential for further development subject to planning permission.
Both 58 Fitzwilliam Square and 58 Pembroke Lane are part occupied at present and are producing a rental income of €45,000 per annum.
Peter Love, who is handling the sale on behalf of Cushman & Wakefield, said: “This is a good opportunity to acquire a prime Georgian and mews property at the heart of Dublin 2. While both properties are in need of refurbishment, there are significant asset management opportunities here in terms of residential and commercial uses.”
