Oakmount offering a 5pc yield for mixed-use Liberties landmark property
A landmark mixed-use block, Sixty One, on Thomas Street, Dublin 8, is being sold by its developer Oakmount, headed by Paddy McKillen Jnr.
Located next to the Vicar Street music venue, the 16,614 sqft property extends to four fully-let floors of grade-A office accommodation, along with John’s Bar & Haberdashery on the ground floor.
Knight Frank is seeking €14.75m and director Ross Fogarty says that with total annual rent of €810,228, it offers a 5pc net initial return.
Its WAULT lease term averages over seven years. Tenants include Lumen Technologies, Digitize New Media amd McCann Advertising. The pub is let to the Workman’s Club which is a hospitality business in the Press Up group, also headed by Paddy McKillen Jnr.