11 and 12 Warrington Place, Dublin 2
A fully let investment property at 11 and 12 Warrington Place, Dublin 2, has come to the market with a €7m guide price. It is generating annual rents totalling €528,520 from five office tenants and one residential tenant equating to a gross initial yield of 7.55pc.
Ivan Tuite of O’Connor Shannon is handling the sale.
Although presenting a Georgian-style facade, the four-storey property is in fact a modern building which was built in the 1980s and its features include reinforced concrete floors and an elevator as well as double glazed windows to its rear. One of its floors is at garden level.
Its office accommodation extends to 1,170 sqm and two of the office tenants have leases due to expire in 2025 while two others hold their offices on licenses. The fifth is Co-Operative Housing whose lease extends to 2034 with a break clause in 2029.
The residential tenant occupies a 153 sqm portion of the third floor on an annual rent of €22,000 and notice has been served.
Standing on a 0.1-acre site, the property benefits from rear access via Power’s Court to its part-covered car park which can accommodate 13 vehicles and also benefits from an electric car-charging point.
Situated in the heart of Dublin’s financial district, Warrington Place overlooks the Grand Canal between Mount Street Bridge and Huband Bridge. It is close to the Pepper Canister Church and the two Mount Streets. It is also close to a range of amenities, including hotels.