Reserved

Three Office Buildings - Blackrock Collection

Blackrock, Co. Dublin, A94 HH36
Development & Land Property

Property Overview

Lot 1: Blackrock Park House

Blackrock Park House, an end of terrace third generation office building extends to approximately 1,562 sqm (16,812 sq ft) NIA over six storeys with 29 car parking spaces at lower ground level.

The C shaped building provides a combination of open plan and private office accommodation. The specification includes raised access floors, suspended ceilings with recessed lighting, 2no. lifts, air conditioning and WC and shower facilities.

This building is currently fully vacant.

Lot 2: Zurich House

Zurich House (middle building) comprises a second generation office building extending to approximately 2,064.4 sqm (22,221 sqft) NIA with 29 cars at lower ground level, making it the largest of the three properties. This five storey, T-shaped building currently interconnects with Blackrock Hall to the east at the ground, third and fourth floor levels.

The building is occupied by Zurich Insurance. The specification includes a combination of solid and retro-fitted raised access floors, suspended ceilings, recessed light fittings, air conditioning, gas fired central heating system, 2no. 6 person lifts, WC facilities located at half landings and is currently fitted to provide a combination of open plan and private office accommodation.

The entire is leased to Zurich on a lease which expires May 2021 at a rent of €500,000 per annum.

Lot 3: Blackrock Hall

Blackrock Hall comprises an end of terrace, second generation office building extending to approximately 1,057 sqm (11,376 sq ft) NIA over five floors with 21 car spaces at lower ground level. This building is also occupied by Zurich Insurance and whilst constructed as a self-contained building, access is currently via the main reception in Zurich House which interconnects with Blackrock Hall at multiple levels.

The rectangular shaped building provides a combination of open plan and private office accommodation with solid floors throughout, suspended ceilings and recessed light fittings, air conditioning and oil fired central heating system, 1 no. 8 person lift and WC and shower facilities at half landings.

Zurich occupy the building on a lease which expires in May 2021 and contains a break option in April 2020. The rent is €345,000 per annum.

Guide Prices

The buildings are for sale in individual lots.

Lot 1: Blackrock Park House – €4,500,000.

Lot 2: Zurich House – €6,600,000 reflecting an NIY of 6.98%

Lot 3: Blackrock Hall – €3,375,000 reflecting an NIY of 9.42%

Title

Blackrock Park House is held freehold and leasehold subject to nominal freehold ground rents with the leasehold portion being for 999 years from 7th August 1827 subject to nominal rent.

Zurich House is held freehold subject to nominal freehold ground rents.

Blackrock Hall is held freehold subject to nominal freehold ground rents.

Solicitor

Arthur Cox

Lot 1: Blackrock Park House Blackrock Park House, an end of terrace third generation office building extends to approximately 1,562 sqm (16,812 sq ft) NIA over six storeys with 29 car parking spaces at lower ground level. The C shaped building provides a combination of open plan and private office accommodation.

  • Rare opportunity to acquire part of, or an entire collection of three modern office buildings in a prime south suburban location.
  • High profile location fronting on to the Frascati Road in Blackrock with stunning views over Dublin Bay and 5 minutes’-walk to Blackrock DART station.
  • Significant refurbishment, asset management or redevelopment opportunities.
  • Tenants not affected
  • Blackrock Park House – vacant 16,812 sq ft with 29 car spaces.
  • Zurich House – let to Zurich and producing €500,000 per annum, 22,221 sq ft with 29 car spaces.
  • Blackrock Hall – let to Zurich and producing €345,000 per annum, 11,376 sq ft with 21 cars.
  • The buildings are being offered for sale in individual lots.

Accommodation

RS-WS1