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Dublin Business School building up for sale for €15m

The building housing the Dublin Business School (DBS) in Dublin city is being put up for sale. Th...
Newstalk
Newstalk

08.45 5 Sep 2018


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Dublin Business School buildin...

Dublin Business School building up for sale for €15m

Newstalk
Newstalk

08.45 5 Sep 2018


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The building housing the Dublin Business School (DBS) in Dublin city is being put up for sale.

The office building on Aungier Street is let on a long lease to the school for a further 10.3 years.

It is being sold by Savills at a guide price in excess of €15m.

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The agency says a price at this level reflects a capital value of €532 per sq ft.

Savills say the building has "upwards only rent reviews and no break options.

"DBS are currently paying a rent of €675,000 per annum, reflecting a low average rate of approx. €24 per sq ft.

"However, the upcoming December 2018 rent review, which can be based on educational or office use, provides investors with a genuine opportunity to enhance the income returns."

This four storey over basement building extends to 2,618 sq m (28,180 sq ft).

The property originally dates from the 1930s and has since been modified and updated.

It provides educational classrooms, lecture rooms, offices, a library and a canteen as well as an entrance foyer/reception area.

Kevin McMahon of Savills says: "We expect strong interest in this opportunity due to the long unexpired term and excellent income enhancement potential from the upcoming rent review".


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