DescriptionAttention all investors looking for a steady income and a fantastic hassle free alternative to having money sitting on deposit. For sale are two adjacent hotel suites together with three car spaces, in the ever popular 4 star Grand Canal Hotel, Dublin 2. Contracted annual rental income is €33,700 - 7.8% yield.
The entire property is at present let to South Bay Limited for a term of 35 years from 2003. The property is sub-let to McEniffs Grand Canal Limited. The contracts are subject to upward-only rent reviews.
The four-star McEniff-operated hotel is ideally situated within strolling distance to Grand Canal Dock, Ballsbridge and Baggot Street. It is also within walking distance to Sandymount, Merrion Square, St Stephen’s Green, Trinity College and all that the city centre has to offer.
Guaranteeing business all year round, the location is close to hugely popular crowd pulling venues that include the Bórd Gais Theatre, the Aviva stadium, 3 Arena and the RDS. Surrounding businesses include Google HQ, Accenture and BT Communications Ireland.
Features• Two hotel suite investment
• 3 car parking spaces
• Let to McEniffs Hotel group
• Lease expiry 2038.
• Current contracted rent reserved €33,700 per annum.
• Net Initial Yield 7.9%.
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