Description*Exceptional long-term redevelopment opportunity (S.P.P.) benefitting from medium term income***
Location / Description:
The subject property is superbly located in the Sandyford Business District which hosts over 25,000 workers and over 1,000 leading multinational companies, including Microsoft, Accenture, Sage, SSE Airtricity, Bank of America to name a few. The property benefits from excellent transport links with the Central Park Luas stop within 500m, numerous Dublin Bus routes that service the area, approximately 1.5km from the N11 and located adjacent to the M50 connecting to commuter areas.
The site is currently totally under developed and comprises a two storey L-shaped office premises and 24 surface car parking spaces. The entirety is let to Soft-ex Communications Limited, with 7 years remaining on the current lease at an annual rent of €162,500 per annum and a rent review due in 2021.
Under the Dún Laoghaire-Rathdown County Council (2016-2022), the subject property is zoned Objective OE - To provide for office and enterprise development. Additionally, under the Sandyford Urban Framework Plan the site is zoned ‘Office based Employment Uses (Zone 3)’. The objective of this zone is ‘to provide for office and enterprise development’.
Renowned architects Reddy Architecture & Urbanism have completed a Feasibility Study identifying two attractive office schemes extending to 55,681 - 67, 748 sq. ft. with 51 car parking spaces provided at basement level and visitor parking at surface level (subject to planning permission).
*Please note that a copy of the Feasibility Study is available for review upon request.