Property Description

Investment Highlights
• Strong Tenant Covenant
• Passing Rent: €110,000 per annum (payable monthly in advance)
• Established Retail Brand with over 300 stores across 17 European countries
• FRI Lease

Tenancy Details
The ground and basement floor of 89 Geroge’s Street is held on a 10-year FRI lease from the 1st January 2025. Søstrene Grene are paying a passing rent of €110,000 per annum. The tenant has been in occupation since 2015 and are currently on their second lease in the property.
• Tenant: S.Grene Dun Laoghaire Ltd t/a Søstrene Grene
• Term: 10 years
• Rent: €110,000
• Commencement: 1st January 2025
• Break Option: 1st January 2030 (6 months’ notice)
• Lease: FRI

Søstrene Grene
The company was founded in 1973 in Denmark and has grown to count more than 300 stores across 17 European countries and online shops in 16 markets. Søstrene Grene has expanded to four stores in Ireland with stores in Dublin City Centre, Dun Laoghaire, Cork and Limerick.

Description
89 Geroge’s Street comprises a stunning three storey over basement mixed use commercial property which fronts onto Geroge’s Street Lower. The ground floor and basement are occupied by Søstrene Grene and extend to 6,084 sq.ft. The first and second floor comprise high end apartments in non rental private ownership.
The ground floor benefits from substantial frontage onto George’s Street. The floor is laid out to provide ample retail space to the front of the floor with storage and staff facilities to the rear. A goods lift connects the first and basement floors.
The basement can be accessed via a rear door located off Sussex Street. This gives the tenant the benefit of all deliveries arriving to the rear. The floor provides a large amount of storage space, office space and staff W.C. facilities.

Location
89 Georges Street Lower holds a prominent high footfall position in the heart of Dun Laoghaire town centre, a bustling and affluent area approximately 12.8km south of Dublin City Centre. The surrounding area encompasses a large residential catchment with a population of 233,680 (CSO 2022).

The area has two shopping centres, Bloomfield and Dun Laoghaire Shopping Centre, both located within 200m of the subject property. The property is also in the vicinity to Dun Laoghaire College of further Education (0.60km), St. Michael’s Hospital (0.75km) and many eateries & pubs dotted along the main street.

The surrounding area benefits from strong public transport links with the property located 4km from the N11 that gives access to north and south County Dublin. Dun Laoghaire Dart Station is also located a mere 500 metres away and the property is well serviced by several bus routes.

Guide Price: €1,400,000
Title: We understand the property is held on long leasehold title
BER: C3
Data Room: Access to the data room is available upon request.
VAT: We understand VAT will not be charged on the sale of the property.
Viewings: Strictly by apportionment with sole selling agent, DNG Commercial.

BER Details

Energy Performance Indicator: 0.00 kWh/m2/yr

This property was last updated: 15 days ago