Commercial Property

Chez Max restaurant in Dublin 2 sells for close to €2m

Restaurant on Lower Baggot Street is producing a rent roll of €90,000

133 Lower Baggot Street in Dublin 2 came on the market last February at €2.1 million

Justin Comiskey
Wed Feb 27 2019 - 01:10

Chez Max restaurant at 133 Lower Baggot Street in Dublin 2 has been sold through agent CBRE to a private investor for close to €2 million.

It is producing a rent roll of €90,000 so this would reflect a net initial yield of about 4.15 per cent and a capital value of 50 per sq ft.

Number 133 came on the market last February at €2.1 million. The three-storey over basement property is on a prominent pitch close to the Baggot/Pembroke Street junction and extends to about 364sq m (3,919sq ft).

‘Good condition’

Ground and basement levels are in use as a restaurant/cafe including functional courtyards. Upper floors are used as ancillary storage/office space and the agent says the property is in “ very good condition throughout”.

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This was a receivership sale on behalf of Mazars. Fiona Kennedy of CBRE acted for the vendor and Antoine Xavier of Xestra Asset Management acted for the purchaser.

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