The subject property is situated on the western side of Leeson Street Lower, approximately 0.4 kilometres southeast of St. Stephen's Green and the prime retail district around Grafton Street. Leeson Street Lower runs in an eastwest direction between the Grand Canal and St. Stephen's Green and the subject property is located close to the junctions of Hatch Street Lower and Adelaide Road.
The property comprises a mid-terrace four storey over basement level Georgian office building, extending to 367.4 sq. m. (3,955 sq. ft.) NIA.
The building was refurbished in c.2008 and the accommodation is well laid out, providing good floor to ceiling height at basement ground and first floor levels. The accommodation offers a number of attractive Georgian period features including fireplaces, ornate doors and timber surrounds and cornicing with centre roses and decorative coving. There are raised access floors in the classrooms throughout. Kitchenette or tea station facilities are provided at basement and third floor levels and incorporate a basic range of modern cupboard units and stainless steel sinks. Toilet facilities are located at basement, ground, first and third floors and feature the usual range of wc / whb units with tiled floors and part tiled walls.
To the rear of the property there is an attractive yard, which is predominantly covered in loose stones together with a number of flowerbeds and shrubs. The rear yard is bounded by a stone wall.
The entire is leased to Champlain College Dublin Limited on a 20 year IRI lease from 8th August 2008.
The contracted rent is €145,000 per annum. The passing rent is €90,000 per annum by way of a side letter, which reduced the rent as and from 1st April 2012.
Highly reversionary, with an outstanding rent review dated August 2018.
Offers are sought in excess of €2,300,000 which represents a net initial yield of 3.56% based off
the passing rent
Viewing strictly by prior appointment with selling agent.