€1.6m for two Rathmines buildings

Commercial properties in Dublin city centre have never been so scarce

Commercial properties in Dublin city centre have never been so scarce. For that reason, Martin O'Mahony of Property Team O'Mahony is expecting strong interest in two Victorian buildings in Rathmines and an office block at Dame Court behind South Great George's Street.

In Rathmines, the adjoining three-storey commercial buildings with two-storey returns and single storey extensions are at 5 and 6 Wynnefield Road and are owned by Hedges Ltd, which has sold architectural materials from the site for the past 30 years. The company has relocated to a modern warehouse at Nangor Road in west Dublin.

Martin O'Mahony is seeking in the region of €800,000 for each of the buildings or €1.6 million for the two. They can be used for a variety of purposes including a restaurant on the ground floor, overhead offices or hairdressing salon and offices or an apartment on the top floor. Number 5 has a retail area of 55.92 sq m (602 sq ft) and a rear room of 15.6 sq m (170 sq ft). Upstairs there are three offices with a combined space of 44.41 sq m (478 sq ft). The second floor has 30 sq m (323 sq ft). The second building, number 6, has an identical configuration with the exception of the ground floor which has a retail area of 44.59 sq m (480 sq ft) and a kitchen of 14.21 sq m (153 sq ft).

Each of the buildings would be likely to produce rental incomes of at least €40,000 per annum.

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Property Team O'Mahony is also marketing Dame Court House, a six-storey over basement office building at 15/16 Dame Court, Dublin 2, which is expected to make around €3.2 million.

The building is owned by Mr Liam O'Hora, owner of Bruce College, which recently sold a former college building at South William Street. It was bought at auction by hairdressing multiple Peter Mark for €2.9 million.

Dame Court House is likely to be used either for offices or as a night club or restaurant. It has a total floor area of 792.5 sq m (8,530 sq ft) and was occupied by Eircom before being sold to Bruce College about four years ago.