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Dublin office block to go on the market with €90m price tag

A space at Spencer Dock in Dublin is to go on the market next week at a guide price in excess of ...
Newstalk
Newstalk

09.10 24 Jun 2015


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Dublin office block to go on t...

Dublin office block to go on the market with €90m price tag

Newstalk
Newstalk

09.10 24 Jun 2015


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A space at Spencer Dock in Dublin is to go on the market next week at a guide price in excess of €90m.

This means it would have a capital value of €708 per square foot.

Block R is situated on Spencer Dock in the North Docklands, immediately adjacent to the National Convention Centre and Kilmore House.

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The area is considered a commercial hub, with occupiers including PWC, A&L Goodbody Solicitors, Credit Suisse and Commerzbank.

The property comprises a seven storey over basement building over seven floors and three retail units at ground floor level.

The building extends to around 127,000 sq. ft. with 46 basement car parking spaces.

The office is let to state tenants and one of the world's leading building societies.

These include: The Central Bank, Nationwide Building Society and The Commissioners of Public Works in Ireland.

The Commissioners of Public Works just signed a new 20 year lease with a break option at the end of year 12.

Fergus O'Farrell of Savills says: "Given the high profile location, security of long term income from state bodies in conjunction with continued investor appetite for Grade A office buildings we anticipate a strong level of interest in the property".


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