Property Description

28-29 Westmoreland Street comprises a fully let mixed-use investment extending to approximately 12,839 sq ft, generating a total passing rent of approximately €341,000 per annum.

The property benefits from a diverse and established tenant mix across retail, office and educational uses and provides a weighted average unexpired lease term (WAULT) of approximately 6.7 years to break and 11.65 years to expiry.

The ground floor, ground floor return and basement of 28 Westmoreland Street is let to Astenbond Limited, which forms part of The Spar Group. It extends to approximately 2,869 sq ft. The accommodation currently generates a rent of €75,000 per annum, increasing to €94,000 per annum from 1 October 2026. The lease expires in November 2030.

The ground floor and basement of 29 Westmoreland Street is occupied by Charlies, which have been trading strongly at this location since 2003 and have recently upgraded their space, which extends to approximately 2,767 sq ft and produces a rent of €90,000 per annum. The tenant occupies under a 20-year lease from June 2025, with a break option at years 10 and 15 and five-yearly open market rent reviews.

The first and second floors of 29 Westmoreland Street is occupied by A&G, which have been in operation here since 1990. Comprising of c. 2,721 sq ft of office accommodation, at a passing rent of €57,000 per annum under a 10-year lease from April 2024.

The upper floors are occupied by ICOT Language School, which was established in 2010 and operates a network of three colleges in Dublin and one in Cork. The accommodation extends to approximately 4,482 sq ft and is held under a 15-year lease from February 2026, with a break option in year 10. The lease produces an initial rent of €100,000 per annum, increasing to €110,000 per annum for years 6-10. The educational use is fully planning-compliant and benefits from a Fire Safety Certificate.

BER Details

Energy Performance Indicator: 0.00 kWh/m2/yr

This property was last updated: 13 days ago