Colliers International successfully sell Georgian Investment property at 14/15 Herbert Place, Dublin 2

Dublin, Monday 19th September 2016 - Colliers International have SOLD a mixed use Georgian investment opportunity on Herbert Place in Dublin 2 for excess €2.5m – the price reflects a NIY of 5.7% after allowing for purchaser’s costs and a capital value of just under €400 psf.  The property is fully let and producing €150,405 per annum.

14/15 Herbert Place comprises two mid terrace, three storey over garden level Georgian buildings with a mews to the rear and parking. The property has been well maintained throughout, retaining many original features with attractive cornicing, ornate fireplaces and ceiling roses throughout.

These excellently presented Georgian properties are located on Herbert Place, overlooking the canal between Lower Baggot Street and Mount Street Crescent.

The sale attracted strong interest from a variety of buyers both national and international, and is one of several Georgian properties that Colliers have sold in Dublin 2 in recent times.

Stephen Conway of Colliers International states “the sale of 14/15 Herbert place highlighted the demand from investors for well located, fully let, mixed use investments.”

The accommodation includes a crèche on the garden level of both buildings. No. 14 provides for 3 spacious, recently refurbished apartments, comprising 2 no. 1 beds and 1 no. 2 bed apartment. The upper floors of No. 15 are in office use and held under 2 separate leases. The mews to the rear, accessed via Herbert Lane, has been substantially refurbished and provides modern, stylish office accommodation.

The property is within easy walking distance of all City Centre amenities, including a host of restaurants, bars and hotels. St. Stephens Green and Grafton Street are located within a 10-minute walk. The area is well served by a host of public transport facilities including numerous bus routes, DART and LUAS Green Line.

-- End –        

  

For further information, please contact:

Stephen Conway

E: stephen.conway@colliers.com

T: + 353 1 6333700