Friday 9 December 2016

Guide of €9m for 80,000 sq ft Shannon office block

Published 28/05/2015 | 02:30

Power & Associates is guiding €9m for Dromore House in Limerick
Power & Associates is guiding €9m for Dromore House in Limerick

Dromore House, a prime office investment located at Shannon Co Clare, is expected to fetch some €9m now that it has been brought to the market by Power & Associates.

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The building which was constructed in in 2000, extends to 80,966 sq ft over four floors of grade A office space. The property is fully occupied with two tenants Intel and Wipro, with a contracted rental income in excess of €1.1m. The selling agents advise the property represents a "prime opportunity to acquire a fully let office investment, with a top quality tenant line up in Intel and Wipro".

The property is located on a site just off the M18, which links Limerick to Shannon and Ennis. The site is said to be 15 minutes from Limerick City Centre.

There is a shortage of high quality grade A office accommodation in the Mid-West Region, and Dromore House is a well located property, in a very accessible location in close proximity to Shannon International Airport.

Dromore House will be one of the largest individual office investment sales to be offered in the market in the Mid-West Region for several years. The agents for the property Power & Associates have indicated that a guide price in excess of €9m will be sought for Dromore House with huge interest expected.

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