Refurbished Georgian house and mews for €1.8m

Knight Frank is quoting €1.8 million for a refurbished Georgian house at 9 Upper Fitzwilliam Street, Dublin 2, which comes with a separate two-storey mews fronting on to Baggot Court.

The main house is a four-storey over-basement mid-terraced building extending to 346sq m (3,730sq ft). The mews building, which is in office use, has a floor area of 91.7sq m (987sq ft) and comes with one parking space.

The main building is let under four leases to tenants including Lemanik Asset Managers and Red Letter Film. The apartment is let to Ebbable Systems. The basement and first-floor return are now vacant, while the mews building is let to Ignition Communications.

The current income of €75,800 per annum reflects a low average rental base of only €21 per sq ft. Knight Frank says that based on recent lettings the market rent should be over €120,000 per annum. With the exception of the first floors, the existing leases have expired, leaving it open to the next owner to either negotiate with the existing tenants or set about securing new lettings.