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€17,000,000
Refreshed on: 26/09/2018

Blackrock Business Park , Carysfort Avenue

Investment Property 4692.4 m 2


Description

Savills is delighted to present this opportunity to acquire a high quality office portfolio in a prime suburban office location.

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- The Blackrock Business Park Portfolio comprises 3 high quality office blocks extending to approximately 4,692.4 sq m (50,509 sq ft) GIA / 3,540 sq m (38,110 sq ft) NIA and benefits from 96 car parking spaces.
- Blackrock holds a reputation as one of Dublin's prime suburban office locations and is home to numerous international occupiers.

- The buildings have a combined gross passing rent of €1,122,556 per annum and a weighted unexpired lease term of 8.5 years and 4.5 years to the earliest break / expiry.

- Block 5 is let to a single operator, Hair Restoration Limited at a total current annual rent of €349,682 with a weighted average unexpired lease term of 9.5 years and 5.0 years to the earliest break.

- The average rent for Blocks 3 & 4 is approximately €22.68 per sq ft NIA which offers significant reversionary potential having regard for the most recent letting at €30.00 per sq ft on an NIA basis.

- Blocks 3 and 4 are 100% occupied and let to a diverse range of tenants from a number of different business sectors.

- Strong commercial covenants including Gempool, Lobo Leasing, Hair Restoration, Fincad and Kobo Software.

- The property has full planning permission for the addition of a penthouse floor on Block 4. The proposed extension extends to approximately 506 sq m (5,446 sq ft) GIA / 427 sq m (4,596 sq ft) NIA.

- For the avoidance of doubt please note that this property is an investment sale and the tenants are not affected.

Documents

  Brochure

Savills Commercial Investments

33 Molesworth Street Dublin 2

Tel: +353 (0) 1 618 1300

PSRA Licence No.  002233  /  002233



€17,000,000
€17,000,000
BESbswy