SUPERB HIGH PROFILE INVESTMENT PROPERTY
ENTIRE BUILDING LET TO CAFFÈ NERO PRODUCING €70,000 PER ANNUM EXCLUSIVE.
TENANT NOT AFFECTED

-Excellent city centre investment property.
-Gross Internal Area (GIA) of approx. 746 sq. M (8,032 sq. ft.).
-Prominent location beside Lower Abbey Street junction
-Close to Wynn’s Hotel and LUAS.
-Let to Caffè Nero (single tenant).
-Passing rent of EUR 70,000 per annum.
-Lease term to 10th January 2032, with break option in January 2027 (subject to 6 months’ notice).
-Freehold title.
-Passenger lift access to all floors.
-Rear delivery access from Harbour Court.


LOCATION

Prominently located on Lower O’Connell Street beside Lower Abbey Street adjoining The Grand Central Bar, Wynns Hotel and Bank of Ireland. The area benefits from high pedestrian footfall and a strong mix of national and international occupiers, with major retail destinations nearby including the Clery’s Quarter, Henry Street, the Ilac Centre and Jervis Shopping Centre. The property is close to the LUAS and DART and many Dublin Bus services.

O'Connell Street is the principal thoroughfare of Dublin city centre and acts as the main arterial route between south and north parts of the city centre crossing at O'Connell Bridge onto D'Olier Street and Westmoreland Street. Notable traders in the immediate vicinity include Burger King, McDonald's, Footlocker, Starbucks, and Schuh, while some of the larger occupiers on the street also include Eason, Penney's, and the GPO.


DESCRIPTION

The property comprises and attractive mixed-use six storey (including mezzanine) over basement building and is entirely let to Caffè Nero at a passing rent of €70,000 per annum exclusive. The property is Zoned Z5 “City Centre”: under the Dublin City Council Development Plan 2022-2028.


ACCOMMODATION

Caffe Nero trades to the public from the ground and mezzanine levels, where the accommodation is fitted to a high standard. While part of the Caffè Nero lease, the levels above second floor are currently surplus to their requirements. The basement is in use as staff facilities for the business. The building offers strong potential for repurposing of the upper floors which were last in office use. The building has the benefit of rear vehicular access from Harbour Court.

Description NIA SQ. M.
Basement (Staff facilities and storage.) 65.0
Ground Floor (café) 75.0
Mezzanine (café seating area) 45.0
First Floor (office / staff facilities) 72.5
Second Floor (office) 92.3
Third Floor (office) 92.3
Fourth Floor (office) 92.3
Roof (plant room) 67.0
APPROX. TOTAL NET INTERNAL AREA
601.34 SQ.M.

TITLE

We understand that the property is held under freehold or almost freehold title.


TENANCY

The property is let to Caffè Nero under a lease commencing on 11th April 2016 and expiring on 10th January 2032 at a current rent of €70,000 per annum exclusive. The next rent review is in April 2026, with the lease also containing a break option in January 2027, subject to six months written notice.
Caffè Nero (Italian for 'Black Coffee') is a premium coffee brand. The Nero Group – the largest independent coffeehouse group in Europe – headquartered in London. The brand was established in 1997 and has over 800 coffee houses in eleven countries including Ireland, the UK and the United States. (Source: Caffe Nero Web Site).


BER CERTIFICATE

C3
Cert No. 800077281. 577.04 kWh/m2/yr /1.4.


VIEWING

By prior arranged appointment only. Contact Eimantas Petrus or Ross Shorten.