High-profile Temple Bar building sells for more than €3m

Savills has secured more than €3 million – at least €250,000 over the guide price – for a prominent commercial building in Dublin’s Temple Bar. The three-storey mid-terrace building adjacent to Temple Bar Square is partially let to the successful Temple Bar public house. The ground and first floor extending to 356sq m (3,881sq ft) has been rented by the bar on a 35-year lease from 1999 at a rent of €190,000 per annum. The rent is subject to five-yearly reviews.

The second floor covering an area of 195sq m (2,098sq ft) is divided into seven office suites, five of which are let at a combined rent of €28,000 per annum. Stephen McCarthy of Savills handled the sale of the investment which will give the new owner a net return of 7.27 per cent.