Ely Place: over €4.5The Institute of Certified Public Accountants is to sell its beautifully maintained Georgian headquarters at 9 Ely Place, Dublin 2. Nicholas Corson of Finnegan Menton is seeking over €4.5 million for the house on the east side of Ely Place, opposite the junction with Hume Street. It is likely to be of interest both for its existing office use but also because of its suitability for conversion into residential use.
Neighbouring occupiers include John Rocha's offices and studio, the RHA Gallagher Gallery, the Knights of Columbanus and the offices of Gallagher Shatter, solicitors.
The house extends to 350sq m (3,750sq ft) and has six car-parking spaces. Interestingly, there is an old coach-house at the rear with 130sq m (1,400sq ft) over two floors.
The building fronts on to Hogan's Lane and comes with planning permission to convert it into a three-bedroom house.
Blackrock: €3.75mA retail and office investment at 6 Main Street, Blackrock, Co Dublin is going for sale today with a guide price of €3.75 million.
Browne Corrigan chartered surveyors is handling the sale of the two-storey building let to the EBS and fronting on to Main Street. A modern extension provides retail space for Hunston's Delicatessen on the ground floor and also for Design Strategies Architects on the first and second floors.
The current rental income is €128,500 but the agent estimates that the rental value is currently €168,000 per annum. The next reviews are due in 2009. All the tenants have 35-year leases with no break options and a full 17 years to run on each of them. The building is one of the most attractive in Blackrock with the added advantage of triple frontage on to Main Street, Bath Place and Idrone Terrace. The triple aspect allows each of the tenants to have maximum natural light and clear views over Dublin Bay. It adjoins Blackrock Dart station.
Peter Browne of Browne Corrigan says the investment would allow an individual to add "an important and significant property to their pension portfolio". In addition, the building had a proven rental growth history and is located in a pivotal and prime location in Blackrock.
Dublin 12: €3mAn office building on a large site at Clonard Road, Crumlin, Dublin 12 is expected to attract a lot of attention from investors and developers when it goes on the market this week.
Chartered surveyors Browne Corrigan is seeking €3 million for the investment, a 910sq m (9,795sq ft) office building let to the Office of Public Works on a 20-year lease with another seven years to run. The rent of €139,000 provides an initial return of 4.6 per cent while the reversionary yield would probably be over 5 per cent.
The agent says this has to represent value in the current market, particularly considering that there is a government tenant. The building stands on a site of 0.47 of an acre and has obvious redevelopment potential if the OPW decides to vacate it in 2015.
The site is adjacent to the headquarters of Leo Laboratories and KCR Industrial Estate. Browne Corrigan says that, as well as established business uses in the immediate area, there is also a mature residential market and, subject to planning permission, the site could accommodate an attractive courtyard-type residential scheme.
Clonard Road is close to Kimmage Cross Road, 2kms from Harold's Cross and 3kms from Terenure.
