Monkstown Restaurant Property in Dublin Sold For €1.25m

By Publications Checkout
Monkstown Restaurant Property in Dublin Sold For €1.25m

No.4 Monkstown Crescent, home to Seapoint Restaurant in Dublin, has been sold for €1,250,000 to a private investor after attracting strong interest.

The property, which was let to Seapoint Restaurants Ltd on a 25-year lease from 14 June 2008, has a contracted rent of €90,000 per annum and was previous granted planning permission for retail use. It extends to 268 square metres and recently underwent refurbishment that saw it extending into a two-storey coach house, reports The Irish Times.

Its ground floor is in use as a bar and restaurant with seating for 110 diners, and the first floor is fitted out as a function room. The property also has a rear yard.

Maria Duffy of Lisney commented that inquiries continued to come in after the sale was agreed, saying, "The calls came mainly from investors looking for exposure to the thriving hospitality sector which is growing on the back of the improving wider economy.”