Thursday 21 September 2017

Charlemont Exchange at €12.5m has potential for development

Charlemont Exchange is well-located in Dublin’s CBD
Charlemont Exchange is well-located in Dublin’s CBD
Ronald Quinlan

Ronald Quinlan

Agents Knight Frank are guiding a price in excess of €12.5m for the part-freehold and part-leashold title of Block D Charlemont Exchange in Dublin 2.

The property, which is being sold on the instructions of Duff & Phelps Real Estate Advisory Group, comes with vacant possession and is subject to an antenna licence.

The sale offers prospective purchasers the opportunity to acquire a prime 2,047 sq m office HQ building with scope for immediate occupation or alternatively adding value by extending the building (subject to planning permission).

Completed in the late 1990s, Block D Charlemont Exchange is located off Charlemont Street, Dublin 2. The semi-detached office building forms part of a larger mixed use development to include the adjacent office blocks A, B & C, the Hilton Hotel, and common plaza and common basement car park. Block D is five storeys in height and offers floor plates of between 350 sq m and 430 sq m. The building comes with 22 secure basement car parking spaces.

While currently vacant throughout, the building is still generating a licence fee income of €3,000 per annum for telecommunication equipment at roof level on a five-year licence from March 26, 2013, which can be terminated subject to notice.

The feasibility study and planning assessment prepared for the sale highlights the potential for an additional penthouse floor of 364 sq m, bringing the total floor area to 2,411 sq m net internal floor area (subject to planning permission).

The building is located within Dublin's CBD and is well served by numerous transport services including Dublin Bus, Dublin Bikes, and the Luas stop at Charlemont.

Sunday Independent

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