22-22A EARLSFORT TERRACE RARE RESIDENTIAL/OFFICE REFURBISHMENT OPPORTUNITY IN PRIME D2 LOCATION
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1 22-22A EARLSFORT TERRACE RARE RESIDENTIAL/OFFICE REFURBISHMENT OPPORTUNITY IN PRIME D2 LOCATION
2 E Executive Summary Executive Summary Exclusive 4 storey over basement mixed-use opportunity Exclusive 4 storey over basement mixed-use opportunity Extending to approximately 800 Sq. m / 8,611 Sq. ft Extending to approximately 800 Sq. m / 8,611 St. Stephen s Green Fitzwilliam Square Sq. ft desired address in Dublin 2 situated on Highly Earlsfort Terraceaddress and Adelaide Street Highly desired in Dublin 2 situated on Earlsfort Terrace and Road Constructed using theadelaide much sought-after Belgravia Architecture Constructed using the much sought-after Iveagh Gardens Belgravia BenefittingArchitecture from full Vacant Possession Benefitting from the full Dublin Vacant City Possession Zoned Z8 under Development Plan Zoned Z8 under the Dublin City Development Plan 2011refurbishment 2017 Excellent prospect Excellent refurbishment prospect Guide price 2.75m Guide price 2.75m The National Concert Hall 22-22a Earlsfort Terrace Portobello Grafton St Location Iveagh Gardens St. Stephen s Green National Concert Hall 22-22A Earlsfort Terrace is situated on one of the most sought after commercial and residential locations in Dublin s City Centre, in the heart of Dublin 2. The property is situated on a prominent high profile corner position fronting Earlsfort Terrace and Adelaide Road. Nearby landmarks include St. Stephen s Green, Iveagh Gardens, Conrad Hotel, National Concert Hall, Harcourt Street and Grafton Street. Earlsfort Terrace The location is enhanced by a wide range of transport links. These include the Green Luas Line, which is within 5 minutes walk, along with numerous Dublin bike hubs and a network of Dublin Bus routes servicing the immediate area and County.
3 Description The property comprises 2 interconnecting four storey over basement Belgravia Style period buildings, extending to approximately 800 Sq. m / 8,611 Sq. ft. The approximate floor areas are set out in the table below. Current Schedule Of Accommodation (GIA) Residential Units Bed Sq. m Sq. ft Unit 1 (Basement) ,2116 Unit 2 (2nd Floor) Unit 3 (2nd Floor) Unit 4 (3rd Floor) Unit 5 (3rd Floor) Office Accommodation Office Suites No 22 was previously in use as multiple office suites at ground and first floor levels, while the basement is laid out as a large 3 bedroom apartment. No 22A is laid out as 4 large apartments at second and third floor levels; 2 x 1 bedroom apartments and 3 x 3 bedroom apartments. This building is further complimented by a lift servicing the second and third floors. All of the units benefit from period features, including high ceilings, original fireplaces, excellent natural light
4 The Opportunity This is a rare opportunity for an investor/developer to purchase a significant residential/office refurbishment opportunity in a prime Dublin 2 location. The property is a striking Belgravia style building which is in good condition throughout. Subject to some minor upgrading and decoration works the property could deliver very high-end living and office accommodation, which is in significant demand in the City Centre. Alternatively, the purchaser could consider a full conversion to residential, subject to planning permission. Residential rents in Dublin saw the largest three month increase in value since Rents rose by an average of 3.9% between April and June, matching the biggest three-month increase in the series, recorded early The second quarter of 2016 saw annual inflation in rents rise above 10%, for the first time since late There is a critical lack of supply of quality rental accommodation in Dublin City and demand remains very strong for good quality accommodation in prime locations. the national concert hall The office market also continues to perform strongly. Prime Georgian rents in Dublin 2 continue to rise and recent transactions in high quality buildings have been agreed at rents in the order of 485 per Sq. m ( 45 per Sq. ft) per annum. Demand is particularly strong for well-presented accommodation, close to major transport hubs. Prime modern office rents now stand at 645 per Sq. m ( 60 per Sq. ft) in Dublin City Centre. st.stephen s green park
5 Floor Plans Basement Floor Ground Floor First Floor Second Floor Extent of 22a Earlsfort Terrace outlined in red. Drawing for identification purposes only. Copyright Sheridan Woods Third Floor
6 Zoning The property has been zoned under objective Z8 of the Dublin City Development Plan : To protect the existing architectural and civic design character, to allow only for limited expansion consistent with the conservation objective. Lands zoned objective Z8 incorporate the main conservation areas in the city, primarily the Georgian squares and streets. The aim is to protect the architectural character/ design and overall setting of such areas. A range of uses, mainly residential, is permitted in such zones as the aim is to maintain and enhance these areas as active residential streets and squares during the day and at night time. Offices are permitted under the zoning objective, but a minimum of 60% of the floorspace on each site (including any mews) shall be residential. Permissible Uses include Bed and Breakfast, Childcare facility, Cultural/recreational building and uses, Education, Embassy residential, Homebased economic activity, Hostel, Hotel, Live-work units, Medical and related consultants, Office (maximum 40% of unit and excluding retail branch bank/ building society), Open space, Residential. Open for Consideration Uses include Buildings for the health, safety and welfare of the public, Guesthouse, Nightclub, Place of public worship, Public service installation, Restaurant.
7 Title Freehold VAT Any VAT arising as a result of the transaction will be the responsibility of the purchaser. Contact Conor Whelan MRICS MSCSI Director T: +353 (0) E: conor.whelan@qre.ie Guide Price 2.75m BER Aishling O Hanlon BSc Surv Surveyor T: +353 (0) E: aishling.ohanlon@qre.ie Viewing Viewings are strictly by appointment with the sole selling agent. qre.ie Solicitor Mason Hayes & Curran South Bank House Barrow Street Dublin 4 PSRA Registration No The agents on their own behalf and on behalf of the vendor/lessor of this property, give notice that: (a) these particulars do not constitute in whole or in part an offer or contract for sale or lease; (b) none of the statements contained in these particulars as to the property are to be relied on as statements or representations of fact; and (c) the vendor/lessor does not make or give, and neither the agents nor any of its members or any person in its employment has any authority to make or give, any representation or warranty whatsoever in relation to the property. The only representations, warranties, undertakings and contractual obligations to be given or undertaken by the vendor/lessor are those contained and expressly referred to in the written contract for sale or agreement for lease between the vendor/lessor and a purchaser or tenant. Prospective purchasers or tenants are strongly advised to: (a) satisfy themselves as to the correctness of each statement contained in these particulars; (b) inspect the property and the neighbouring area; (c) ensure that any items expressed to be included are available and in working order; (d) arrange a full structural (and where appropriate environmental) survey of the property; and (e) carry out all necessary searches and enquiries. Any representation including descriptions, dimensions, references to condition, permissions or licenses for uses or occupation, access and any other details are given in good faith and are believed to be correct, but any intending purchaser or tenant should not rely on them as statements or representations of fact but must satisfy themselves (at their own expense) as to their correctness.
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