Wednesday 18 October 2017

Clonskeagh block with a net initial yield of some 5.5pc

Peter Flanagan

Peter Flanagan

HWBC is bringing what it is calling a "rare Dublin 4 Office Investment opportunity to market" with an asking price of €5.5m.

The firm is selling Beaver House in Beech Hill office park in Clonskeagh.

The office park situated adjacent to the former Smurfit Packaging HQ and the Riverview Sports Complex. Clonskeagh is a location that has been favoured by many national and international occupiers including Paddy Power Bookmakers, Topaz Oil and Ericsson amongst others. The area is well serviced by transport facilities and services with easy access to Ranelagh Village and the N11 at nearby Donnybrook.

Beaver House, comprises a 30,000 sq ft gross internal area, three storey modern office building with car parking for 90 cars at basement and ground floor levels (one space per 300 sq ft or so). The property has recently undergone an extensive refurbishment programme.

The sale price reflects a net initial yield of 5.5pc, rising to 8pc i the block is fully occupied.

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