HomeIrelandDublinDublin 1Talbot StreetIndependent House,Talbot Street,Dublin 1
€34,000,000

Independent House,Talbot Street,Dublin 1

Energy RatingInvestment Property
Knight Frank
Knight Frank
Tel: 01 634 2466
PSRA Licence No. 001266
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Description

Independent House, Talbot Street, Dublin 1 Superb Mixed Use Investment Opportunity - Newly refurbished HQ Building for Mediahuis Ireland (formerly INM). - SuperValu and Frank & Honest Café located at ground floor. - Bustling central location at the junction of Talbot Street and James Joyce Street with high volumes of footfall. - Comprises approx. 4,173 sq.m. of grade A office accommodation and 950 sq.m. of retail space. - 26 secure basement car parking spaces. - Fully let at a passing rent of €1,941,592 with a WAULT of approximately 9.71 years from 1st Jan 2022. - One of the most accessible locations in Dublin City Centre (Train/DART/Luas/Dublin Bikes/Busáras). - Only 200m from the IFSC and 450m from O’Connell Street/Henry Street, offering unrivalled provision of amenities on its doorstep - Mediahuis Ireland Limited has committed to an newly extended 10 year term from the 1st January 2022 at a revised rent of €1,666,592 per annum with a full guarantee from its Belgian parent, CPI linked rent reviews and a committed investment to deliver an extensive schedule of upgrade works to deliver enhanced ESG credentials. - Target BER B for the entire property post completion of the upgrade works. - Guide Price - Excess €34 million reflecting a net initial yield of approx. 5.2% accounting for standard purchasers cost at 9.96%. DATSITE www.independenthousedublin.com LOCATION Independent House occupies a prominent position at the corner of Talbot Street and James Joyce Street, facing onto one of the busiest approaches to Dublin City Centre. The immediate surrounding area comprises a mixture of retail, office and residential uses. Talbot Street benefits from high volumes of both pedestrian and vehicular footfall,connecting Amiens Street to North Earl Street and onwards to O’Connell Street/Henry Street, Dublin City’s primary thoroughfare and busiest retailing district. THE BUILDING Independent House is a modern, mixed-use property comprising of retail at ground floor and office accommodation overhead extending to a net internal floor area of approximately 5,123.69 sq m / 55,151 sq ft. The property benefits from 26 secure basement car parking spaces that are accessible off Foley Street. BUILDING UPGRADE PROGRAMME  There is a programme of upgrade works being undertaken by Mediahuis across its entire demise to include installation of new air conditioning throughout, upgrade of the main office reception area, lift car upgrades, distribution board upgrade, new boilers and flue, bathroom upgrades on all floors, LED lighting upgrades, core area redecoration and roof/terrace refurbishment works. The overall upgrade works programme is estimated at €4,000,000. TENANT OVERVIEW Mediahuis (formerly Independent News & Media) Mediahuis Ireland Limited, publisher of The Independent Newspaper and other affiliate regional newspapers, is the leading print and digital media publisher in Ireland. It is vertically integrated with print and distribution assets and is the largest wholesale distributor of newspapers and magazines on the island. A newly negotiated re-gear has completed with Mediahuis that has delivered a revised rent of €35.50 per sq.ft, a 10-year term commitment, CPI linked rent reviews (annual cap/collar of +3/-1), a full Belgian parent guarantee and a building upgrade programme of approx. €4 million that will deliver a target BER of B for the entire property. Kane/McCarthy SuperValu Group SuperValu is part of the Musgrave Group, Ireland’s largest grocery and food distributor. With 223 stores throughout Ireland, SuperValu has thrived in Ireland for over 30 years and has become a well-established landmark across Irish communities. Contact Ross Fogarty / Peter Flanagan At Knight Frank

BER Details

BER: C3

Negotiator Details

Ross Fogarty
Price Changes in Talbot Street
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Main image for Independent House,Talbot Street,Dublin 1
€5,000,000(17.24%)
€29,000,000€34,000,000
C3
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Independent House,Talbot Street,Dublin 1

€34,000,000

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Price€34,000,000
Property TypeInvestment Property
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Energy RatingBER-C3
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Description

Independent House, Talbot Street, Dublin 1 Superb Mixed Use Investment Opportunity - Newly refurbished HQ Building for Mediahuis Ireland (formerly INM). - SuperValu and Frank & Honest Café located at ground floor. - Bustling central location at the junction of Talbot Street and James Joyce Street with high volumes of footfall. - Comprises approx. 4,173 sq.m. of grade A office accommodation and 950 sq.m. of retail space. - 26 secure basement car parking spaces. - Fully let at a passing rent of €1,941,592 with a WAULT of approximately 9.71 years from 1st Jan 2022. - One of the most accessible locations in Dublin City Centre (Train/DART/Luas/Dublin Bikes/Busáras). - Only 200m from the IFSC and 450m from O’Connell Street/Henry Street, offering unrivalled provision of amenities on its doorstep - Mediahuis Ireland Limited has committed to an newly extended 10 year term from the 1st January 2022 at a revised rent of €1,666,592 per annum with a full guarantee from its Belgian parent, CPI linked rent reviews and a committed investment to deliver an extensive schedule of upgrade works to deliver enhanced ESG credentials. - Target BER B for the entire property post completion of the upgrade works. - Guide Price - Excess €34 million reflecting a net initial yield of approx. 5.2% accounting for standard purchasers cost at 9.96%. DATSITE www.independenthousedublin.com LOCATION Independent House occupies a prominent position at the corner of Talbot Street and James Joyce Street, facing onto one of the busiest approaches to Dublin City Centre. The immediate surrounding area comprises a mixture of retail, office and residential uses. Talbot Street benefits from high volumes of both pedestrian and vehicular footfall,connecting Amiens Street to North Earl Street and onwards to O’Connell Street/Henry Street, Dublin City’s primary thoroughfare and busiest retailing district. THE BUILDING Independent House is a modern, mixed-use property comprising of retail at ground floor and office accommodation overhead extending to a net internal floor area of approximately 5,123.69 sq m / 55,151 sq ft. The property benefits from 26 secure basement car parking spaces that are accessible off Foley Street. BUILDING UPGRADE PROGRAMME  There is a programme of upgrade works being undertaken by Mediahuis across its entire demise to include installation of new air conditioning throughout, upgrade of the main office reception area, lift car upgrades, distribution board upgrade, new boilers and flue, bathroom upgrades on all floors, LED lighting upgrades, core area redecoration and roof/terrace refurbishment works. The overall upgrade works programme is estimated at €4,000,000. TENANT OVERVIEW Mediahuis (formerly Independent News & Media) Mediahuis Ireland Limited, publisher of The Independent Newspaper and other affiliate regional newspapers, is the leading print and digital media publisher in Ireland. It is vertically integrated with print and distribution assets and is the largest wholesale distributor of newspapers and magazines on the island. A newly negotiated re-gear has completed with Mediahuis that has delivered a revised rent of €35.50 per sq.ft, a 10-year term commitment, CPI linked rent reviews (annual cap/collar of +3/-1), a full Belgian parent guarantee and a building upgrade programme of approx. €4 million that will deliver a target BER of B for the entire property. Kane/McCarthy SuperValu Group SuperValu is part of the Musgrave Group, Ireland’s largest grocery and food distributor. With 223 stores throughout Ireland, SuperValu has thrived in Ireland for over 30 years and has become a well-established landmark across Irish communities. Contact Ross Fogarty / Peter Flanagan At Knight Frank

BER Details

BER: C3

Negotiator Details

Ross Fogarty