Agent Colliers is guiding a price of €2.35 million for a fully let, mixed-use investment in Dublin’s south city centre. Located at 43 South William Street and 1 Chatham Row, the subject property, which comprises a four-storey over-basement building of 282sq m (3,041sq ft), will be instantly recognisable to generations of Dubliners and visitors alike as the home of the well-known and hugely popular Metro Cafe.
Metro Cafe occupies the ground floor and basement and pays a rent of €87,500 per annum, under two separate leases, expiring in 2030, with upwards-only rent review provisions. There is 74.3sq m (800sq ft) on the ground floor and a further 35.3sq m (380sq ft) at basement level. There are three two-bedroom apartments overhead, which together, are producing €74,928 in annual rental income under separate residential tenancy agreements. All told, the investment is generating €162,428 per annum.
43 South William Street and 1 Chatham Row occupy prime positions on the corner of South William Street and Chatham Row, and are less than 300m from Grafton Street. South William Street is one of Dublin’s most vibrant thoroughfares with a wide array of food and beverage outlets, including Peter’s Pub, Farrier and Draper, Platform 61 and Grogan’s, clustered together beside heritage buildings such as the Powerscourt Townhouse Centre.
The immediate area is currently undergoing significant regeneration with the completion of the final phase of Chatham and King by Hines on Chatham Street and Clarendon Row, which will link South William Street to Grafton Street. Paul Sheeran Jewellers has recently agreed to lease the entire ground floor of the development, which will be occupied by five luxury watch brands including TAG Heuer and Cartier.
Commenting on the sale of 43 South William Street and 1 Chatham Row, Michele McGarry of Colliers said: “This is a fantastic opportunity to acquire an iconic property located in a prime Dublin 2 location. 43 South William Street and 1 Chatham Row will appeal to investors with its tenant mix and bustling location underpinned by the quality of the building itself.”
