16 Aungier Street, Dublin 2

16 Aungier Street, Dublin 2

Superb Mixed Use Investment Opportunity 

Agents Knight Frank have launched for sale 16 Aungier Street, Dublin 2, a superb mixed use investment property, consisting of a newly fitted ground floor restaurant, and six residential apartments overhead. The property extends to a net internal floor area of approx. 330 sq.m. The passing rent of the property is in the order of €127,820 per annum on the assumption of re-letting one of the vacant residential units, purposely held vacant for the purpose of the sale. At a guide price of excess €1.5 million investors would enjoy a gross initial yield of approx. 8.5%. The asset also benefits from significant reversionary potential in the longer term with many units passing at significantly below open market rental levels.  

The ground floor accommodates one of Dublin’s newest and exciting restaurant offerings, Big Fan.  The unit benefits for a brand new fit-out, kitchen and ancillary storage extending to approx. 125.02 sq.m. in total. Big Fan offers authentic Chinese street food specialising in the increasingly popular Bao or Baozi – a northern Chinese dish consisting of steamed sweet white buns with a wide choice of oriental fillings. The venture is backed and directly managed by an experienced operational team who have been involved in another long standing restaurant brand in Dublin. 

The restaurant is let on a 35 FRI year lease from 11th July 2005 at a rent of €50,000 per annum, offering both an unexpired term of circa 19.7 years and further scope for reversionary potential in the medium to long term. 

The upper floors of this traditional red bricked mid-terraced property, are arranged to provide 6 x 1-bedroom self-contained residential units and have been fitted with, kitchens, bathrooms, gas-fired central heating and uPVC double glazed windows.

The asset’s location, in one of the most central and vibrant areas in the city, provides unrivalled access to every conceivable amenity the Capital has to offer and delivers unquestionable long term secure letting viability to a landlord. Given the assets location, the property benefits from substantial footfall throughout the day and evening with numerous shops, universities and offices in close proximity. 

Knight Frank are guiding excess €1.5m for the property offering investors an attractive gross return in the order of 8.5%. 

Full details are available from @ WWW.16AUNGIERSTREET.COM