75% interest in a prime office investment opportunity in Dublin 2.,
14th August 2015
Lisney is marketing a 75% interest in a prime office investment opportunity on Harcourt Terrace, Dublin 2. The quoting price of €3,000,000 represents a net initial yield 5.91% based on the abated rent. There is scope to increase this given in the short term.
The entire is let to one tenant on a 35 year lease from 15th December 1989. The tenant has sublet some of the floors. The contracted income is €325,000 per annum; this is currently reduced to €185,125 per annum. The property has 8 car spaces.
The property is situated on the west side of Harcourt Terrace in an attractive cul de sac setting on the southern side of Dublin City, the Grand Canal runs along the southern end of the street. The surrounding area is a mix of residential houses and office buildings. St. Stephen’s Green is approximately 600m northwest of the property. Major occupiers in the locality include Rabobank, Deloitte, Mazars and Ernst & Young.
The area is well served with public transport with the Charlemount Luas stop just west of the property and Dublin city buses serving the immediate locality.
Lisney consider the property will attract both domestic and foreign private investors.
For further information contact Maria Lennon or Ann Hargaden on 01-6382700