Dublin, 30th March 2025 –Colliers has launched the sale of 61 Merrion Square, Dublin 2, a fully let Georgian office investment for €3.3 million. The property offers an opportunity to acquire an exquisite Georgian building in the Central Business District.
61 Merrion Square is a four-storey over basement mid-terraced Georgian building extending to 510 sq m (5,491 sq. ft) NIA, there is parking for four cars to the rear. The property presents in excellent condition having been tastefully restored to the highest standard, retaining original Georgian features such as decorative cornicing, sash windows, original fireplaces and high ceilings, all of which contribute the historic character of this beautiful building.
The building is occupied by four tenants, Kennedy PR & Brand, Primo Productions, The Friday Agency and NBK Architects, generating a passing rent of €186,360 per annum with a WAULT of 2.23 years. Primo Productions, occupy the ground and first floors, accounting for approximately 50% of the rent roll, paying €91,784 per annum, the lease expires in 2027. The opportunity also provides reversionary potential, with some of the passing rents substantially below the market rent, in particular the rent on the third floor which is passing off €18 psf. Three of the four tenants have signed Deeds of Renunciation giving the buyer the opportunity, if required, to get vacant possession as the leases expire.
Located in Dublin’s Georgian core, the property is within walking distance of St. Stephen’s Green, Grafton Street and Government Buildings. All key transport links, including DART, Luas and multiple bus routes, serve the property.
Colliers are guiding €3.3 million which equates to a Net Initial Yield (NIY) of 5.13% and a Capital Value of €600 per sq ft.
Michele McGarry, Head of Capital Markets who is handling the sale on behalf of the vendors, stated: –
– “Colliers are excited to the launch the sale of this exquisite Georgian property, the sale offers a fully let office Investment. The building presents in immaculate condition having been refurbished to the highest standard. No 61 is undoubtedly the best quality Georgian to come to the market for some time, furthermore, it’s worth noting that No 61 is located in the most desirable Georgian location in Dublin, being the South side of Merrion Square. The sale will no doubt generate very strong interest from buyers looking to acquire what must be considered the best Georgian office to come the market for some time”
