Mixed-Use Investment: A recently completed mixed-use investment in Dalkey village in south Dublin is set to make over €6.5 million when it is sold through Hamilton Osborne King's investment division.
The development at 2 Convent Road and 19/20 St Patrick's Road is located at the southern end of Dalkey village, close to Coliemore Road and the Dalkey Dart station. The high quality scheme has been cleverly designed and is laid out as two separate blocks with a glass, aluminium and redbrick facade. The blocks are separated by a secure courtyard, accessed via electric gates from Convent Lane.
The development has a floor area of over 641sq m (6,900sq ft). The front block has three ground floor retail spaces fronting on to Convent Road. There are also four two-bedroom duplex-style apartments, three of them with balconies, over the first and second floors. The courtyard to the rear provides parking for three cars.
In addition, there are two townhouses with wraparound balconies and six car-parking spaces.
All three retail outlets are let on 25-year leases from 2005 with upward-only rent reviews. The rent roll is €91,000 per annum. The tenants, who each have a dedicated car-parking space, are Il Primo Restaurant, My Lily and Lennox Estates. The duplex apartments and one townhouse are let on 12-month tenancies and are producing €105,000 per annum. One of the townhouses has been left vacant to facilitate viewing. All the residential units are fully furnished and fit-out is of a high standard.
