Fitzwilliam Square Ge­or­gian for €2.75m-plus

One of Dublin’s most pho­tographed pe­riod homes to be sold for third time in 120 years Prop­erty cur­rently pro­duces a rent of €135,000, which is likely to in­crease

The Irish Times - Business - - BUSINESS COMMERCIAL PROPERTY - JACK FA­GAN

One of the most pho­tographed Ge­or­gian houses in Dublin, 48 Fitzwilliam Square, looks set to at­tract even more at­ten­tion in the run up to auc­tion on De­cem­ber 14th, when it is due to be of­fered for sale for only the third time in more than 120 years.

The four-storey over-base­ment build­ing and ad­join­ing houses cov­ered in Vir­ginia creeper are con­stantly pho­tographed by tourists and other ad­mir­ers of some of the city’s most pres­ti­gious of­fices and homes.

No 48, now pre­dom­i­nantly in of­fice use, has been ex­cep­tion­ally well-main­tained over the years. It un­der­went a com­plete re­fur­bish­ment in 2005, in­clud­ing rewiring, re­ca­bling and re­dec­o­ra­tion. Three years later it was reroofed and again fit­ted with the lat­est elec­tri­cal ap­pli­ances and in 2014 the el­e­gant rooms were again up­graded and re­painted.

Michael Tur­ley of Tur­ley Prop­erty Ad­vi­sors is guid­ing in ex­cess of €2.75 mil­lion for the house, which has a net in­ter­nal area of 386sq m (4,162sq ft) and a one-bed­room res­i­den­tial mews at the rear ex­tend­ing to 51sq m (512sq ft). The gar­den area in­cludes five or six car park­ing spa­ces and stor­age for four bi­cy­cles.

The house cur­rently pro­duces a rental in­come of €135,000, which Tur­ley con­tends could be in­creased to well over €200,000 on re­view. Ard­stone Cap­i­tal is pay­ing an an­nual rent of €85,000 (€25.50/sq ft) for of­fices on the ground, first, sec­ond and third floors. The 2015 lease pro­vides for a land­lord or tenant break at the end of the sixth year.

The base­ment is in res­i­den­tial use, with three/four bed­rooms that are rented at €24,000 per an­num. The mews has in­de­pen­dent ac­cess from Laverty Court and has the po­ten­tial to pro­duce a rental in­come of €20,000 per an­num.

No 48 is lo­cated on the west side of Fitzwilliam Square over­look­ing the park, to which it has ac­cess.

For auc­tion: 48 Fitzwilliam Square, Dublin un­der­went a com­plete re­fur­bish­ment in 2005.

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