11 Harcourt Street, Dublin 2 D02WR96 Dublin 2

  • Investment
ID: RC-1803
For Sale
€1 500 000

LOCATION
Number 11 Harcourt Street occupies a high profile position on the west side of Harcourt Street, only a few hundred meters from the junction of St. Stephens Green and Cuffe Street. The property is only a short walking distance from Camden Street, St. Stephens Green and Grafton Street.

There is an adjoining industrial building at the rear of the property extends back another 25 meters from the property and there is fire escape access onto this building and Montague Lane at the rear of the premises. There is on street car parking at the rear of the site, which is accessed via Montague Street, which is less than a hundred meters to the south of the property and links Harcourt Street with Camden Street.

This Georgian building is located n the Central Business District and is directly opposite KPMG and adjacent to Byrne Wallace Solicitors, Manpower Recruitment, Ernst & Young, the OPW,
The Dean Hotel and the OCallaghan Stephens Green Hotel. The rear of the site backs on to the Montague Court office block and a host of nearby cafes and restaurants on Montague Lane,
Camden Street and Harcourt Street.

The Green LUAS line station is less than 5 minutes walking distance from the subject property and services the south suburbs and Cherrywood as well as the north city centre and suburbs.
There is also a Dublinbike.ie station located directly opposite the premises on Clonmel Place

DESCRIPTION
11 Harcourt Street is listed as a Protected Building and comprise a 4 storey over basement Georgian building with a high profile ground floor retail unit with a period timber shop front and showroom with an internal stair access to the basement floor. The property has been split up into 2 separate units with a ground floor and basement self-contained retail unit and a language college with a separate entrance, reception and lobby leading to the first, second and third floors.

There is current planning permission in place for the language college and the property has been fitted out to a reasonably high standard to provide a reception area and mix of 8 class rooms, training rooms, offices, canteen/ break out areas, ladies and gents toilets over the 3 Georgian floors. In addition to the main stairs there is a metal fire escape serving all of the upper floors with emergency escape access over the adjoining property (10 Harcourt Street).

LEASE
We understand that the upper floors are rented to Academic Bridge Limited on a 4 Year and 9 months Lease from 1st March 2022 and are paying a current rent of €90,000 p.a. The landlord has a Break Option any time after 3 years, subject to 6 months prior written notice
We understand that the ground floor and basement tenants Lease expired in 2021 and they were paying a rent of €23,000 p.a.

We understand that there is Full Planning Permission in place to develop a modern 1,498.1 sq.m. (16,125 sq.ft.) office block at the rear of the property which can interconnect with the 2 Georgian
Buildings on Harcourt Street (10 & 11). Planning Ref: 2720/15 (plans available upon request).

The property is being sold with the benefit of the existing short term Leases in place. A purchaser can choose to keep the rental income and tenants in place or look to obtain full vacant possession in future for refurbishment and potential development with the adjoining building.

Sq.M. Sq.Ft.
Ground Floor 76.3 821
1st Floor 59.3 639 2 no. class rooms
2nd Floor 59.3 639 3 no. class rooms, toilets and canteen
3rd Floor 59.3 639 3 no. class rooms, toilets and canteen
Basement 85.5 920
339.8 3,658 Net Internal Floor Area

PLANNING ZONING
Dublin city development plan 2016 2022 has the property site zoned as Z8 to protect the existing
architectural and civic design character, and to allow only for limited expansion consistent with the conservation objective Use Classes Related to Zoning Objective are as shown over.

BUILDING INSURANCE COSTS
We have been informed that the building insurance costs are €5,187 p.a.

SERVICES
We understand that all mains services are connected to the property.

TITLE
Long Leasehold

Amenities

  • Air Conditioning
  • City Centre
  • Good Connectivity
  • Good Schools
  • Gym
  • High Footfall
  • Holiday Home
  • Kitchen
  • Lakeside
  • LUAS
  • Luas Line
  • Parking
  • Public Transport
  • Restaurant planning permission
  • Scenic area
  • Seaside
  • Security System
  • Shopping District
  • University
  • Watersports

Features

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  • Investment

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