UK firm looks to flip D2 office investment

Lambert Smith Hampton is guiding €1,050,000 for 4 Castle Street

4 Castle Street: Lambert Smith Hampton is guiding €1,050,000 for the house

A UK investment company which bought a restored Georgian office building at 4 Castle Street in Dublin 2 is planning to cash in on the capital appreciation since then by offloading it in the coming weeks.

Joe O’Donoghue of Lambert Smith Hampton is guiding €1,050,000 for the house which has been completely redecorated and fitted with new bathrooms and a kitchen.

The building is laid out to provide a ground floor office area, spacious rooms on the upper floors and a basement stores with an enclosed stone courtyard to the rear.

The building is let to a marketing company, Social House, under a 10-year lease from last January at a headline rent of €80,000 per annum.

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The guide price equates to a valuation of €286 per sq ft.

Jack Fagan

Jack Fagan

Jack Fagan is the former commercial-property editor of The Irish Times