The Rotunda Hospital has paid €4.275 million or slightly more than the €4.2 million that had been guided by agent Robert Colleran for the “Cavendish Collection”, a portfolio of two Georgian office buildings located in a high-profile position next to the hospital’s main campus in Dublin city centre. News of the deal follows the Rotunda Hospital’s recent opening of its new maternity outpatient services unit at the nearby Clerys Quarter on O’Connell Street.
Numbers 1-2 Cavendish Row briefly comprise a landmark four-storey, over-basement building facing towards O’Connell Street from its junction with Parnell Street while 5 Cavendish Row comprises a two-bay building facing the entrance to the Gate Theatre. Occupied formerly by the Irish alternative asset manager Abbey Capital, and prior to that by the National Bank and Bank of Ireland, the subject property will be used as offices by the Rotunda. The move will free up office space in the hospital’s main buildings for additional beds.
Numbers 1, 2 and 5 Cavendish Row have all been carefully refurbished and restored and have a high standard of fit-out and interior design alongside many of their original period features. Extending to 1,067sq m (11,485sq ft) and 534sq m (5,748sq ft), the buildings briefly comprise a mix of open-plan and individual offices, boardrooms, meeting rooms, breakout areas, kitchen/canteens. In the case of number 5 Cavendish Row, the property includes hotel-standard bathrooms, along with shower rooms, a gym at basement level, changing rooms and a large bicycle storage and dryer room.
The properties are located immediately next to the Luas red line stop on Parnell Street, giving occupiers ready access to the south city centre and north and south suburbs. The immediate area is also well served by numerous Dublin Bus routes and the Aircoach service to Dublin Airport.
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Nearby amenities, meanwhile, include the Gate Theatre, Hugh Lane Art Gallery, Chapter One Restaurant, and several hotels including the Hotel Riu Plaza The Gresham Dublin. The much-anticipated Clerys Quarter is just a short walk away on O’Connell Street as is the hugely popular shopping district of Henry Street.
The sale of the Cavendish Collection followed Abbey Capital’s €16 million acquisition of, and move to, a new statement headquarters in the home of the former Hibernian United Services Club at No 8 St Stephen’s Green. Abbey Capital stepped in to buy the property last September after a deal to sell it to Paddy McKillen jnr and Matt Ryan’s Oakmount fell away at the 11th hour.
