Developers and investors looking for an opportunity to deliver boutique office and residential accommodation in a prime location in Dublin city centre may be interested in the sale of No 19-24 St Andrew’s Street.
Located directly opposite St Andrew’s Church and just 100m from Grafton Street, the landmark art deco-style building, which is best known as one of the city’s main post offices, is being offered for sale by agent Savills at a guide price of €9.5 million.
The subject property extends to 1,965sq m (21,160sq ft), sits on a 0.08-hectare (0.20-acre) site, and is zoned Z5 – city centre – under the draft Dublin City Council Development Plan 2022-2028, “to consolidate and facilitate the development of the central area, and to identify, reinforce, strengthen and protect its civic design character and dignity”.
The St Andrew Street building, built in 1948 to replace the original post office building on Church Lane, comprises a four-storey over-basement, seven-bay Art Deco-style building with granite facade.
Separate entrance
The ground floor is predominantly occupied by An Post with a separate entrance to the offices overhead. The first, second and third floors currently consist of a mix of open-plan and cellular offices, with plant machinery and storage spaces available in the basement space. The property has generous ceiling heights ranging from 2.6m to 4.2m.
While the building is listed on Dublin City Council’s Record of Protected Structures (Ref: 7569), that will not preclude the prospective purchaser from pursuing a range of potential options including the delivery of office, food and beverage, residential or retail uses subject to the necessary planning permission.
The property is currently owned and occupied by An Post, and is being marketed for sale with the benefit of a new 25-year agreement for lease to An Post of the ground floor and part of the basement with the benefit of vacant possession of the upper floors and remaining basement. An Post has agreed to pay a rent of €350,000 per annum.
Andrew Sherry of Savills says: “This landmark building will attract developers and investors alike. This sale will be driven by the property’s sought-after and established location with its strong office, food and beverage and retail presence and its excellent connectivity.”
