InvestmentsSavills Hamilton Osborne King is seeking over €5.85 million for a mixed-use investment in Dalkey, Co Dublin.
The recently completed complex at 2 Convent Road and 19/20 St Patrick's Road, Dalkey, is located at the southern end of Dalkey village, close to the Dart station.
There are two distinctive blocks separated by a courtyard which is accessed via electric gates from Convent Road. Both blocks have a floor area of 641sq m (6,900sq ft).
The front block comprises three retail investments fronting on to Convent Road. In addition, there are four two-bedroom duplex apartments over first and second floors. The rear section includes two attractive townhouses with large wraparound balconies.
Each of the townhouses extends to 83sq m (893sq ft) and includes a ground level garage/car-park for six cars. The courtyard accommodates a further three cars.
All three retail units are let on 25-year leases from 2005 with five yearly upwards-only rent reviews. They are currently producing €91,000 per annum. The tenants are Il Primo Restaurant, My Lily and Lennox Estates.
The residential units currently produce an income of €125,000 per annum. Some of the homes have been kept vacant to facilitate viewing. In view of this arrangement, the developer is providing a six-month rental underwrite on two of the units.
The townhouses and apartments are fully furnished and fitted out to a high standard, including integrated Neff electrical appliances. Gas-fired underfloor heating has been installed upstairs while radiators provide the heat downstairs. There are American oak hardwood floors throughout.
