€750,000 for former PD HQ

Agent CBRE is seeking €750,000 for a multi-tenanted investment at 25 South Frederick Street, Dublin 2, which will show a net initial yield of 6.83 per cent.

The four-storey over basement Georgian building, previously used as the HQ of the Progressive Democrats, is close to the intersection of Nassau and Molesworth streets. There is a single storey mews to the rear which brings the overall floor area up to 360sq m (3,874sq ft). Gormleys Fine Art occupy the ground, first, second and third floors under four separate leases from 2010 for a term of five years at an overall rent of €46,000. The basement is let to Christopher Ashe, trading as Wellesley Ashe Gallery, on an expired lease at a rent of €7,500 per annum. There is also a two-bedroom apartment on the top floor.