A landmark property located at the top of Dawson Street in Dublin is set to hit the market, with an asking price of €5.8 million. The property, which is situated in a prime location in the heart of the city centre, has already generated significant interest from potential buyers. This sale represents a unique opportunity for investors to acquire a prestigious piece of Dublin real estate, with the potential for significant capital appreciation in the coming years. In this article, we will explore the details of this exciting opportunity and examine the factors that make this property such a prized asset in the Irish property market.
Derek McGrath, the owner and CEO of Core Capital, is currently on the lookout for a buyer for a mixed-use investment property located on Dublin’s Dawson Street. The buildings at 22, 23, and 23C Dawson Street, which are owned by McGrath personally, are being offered for sale on an off-market basis with a guide price of €5.8 million by the agent Bannon. The property used to house the Harry Moore electrical goods store and is generating an annual rental income of €311,000 from three separate leases and four apartments. The property is leased to Nannetti’s, Robert Lamb, and Rateridge Ltd, trading as Tang, with rent reviews and negotiated CPI-linked increases. McGrath’s Core Capital is reputedly one of the leading specialty advisors to private investors in Dublin with significant development and investment transactions across Ireland, the UK, the USA, and Europe. Among other projects, Core Capital is developing Clerys Quarter, the former Clerys department store in Dublin’s O’Connell Street, in partnership with Europa Capital and Paddy McKillen Jr’s Oakmount.
In conclusion, the sought after landmark property at the top of Dawson Street is a unique and coveted asset in the heart of Dublin. With its impressive size, historic significance and prime location, it presents an exceptional opportunity for investors to own a piece of Dublin’s vibrant heritage. It will be interesting to see how the bidding process unfolds and who ultimately becomes the new owner of this iconic property. Whatever the outcome may be, one thing is certain – this property will continue to be an integral part of Dublin’s rich cultural and architectural landscape for years to come.
