Tuesday 17 October 2017

Justice HQ put on the market with €15m asking price

Brehon Capital are seeking €15m for 94 St Stephen's Green
Brehon Capital are seeking €15m for 94 St Stephen's Green
Peter Flanagan

Peter Flanagan

BREHON Capital are seeking upwards fo €15m for the headquarters of the department of justice inCentral Dublin.

According to CBRE, the investment firm is selling the building at 94 St Stephens Green barely a year after it took on the property as part of the Ulysees Portfolio of the former empire of developer Liam Carroll.

The property comprises a part listed office building with extension to the rear that is approximately 1,859 sq m (20,014 sq ft) in total.

The front section of the building provides basement storage, ground, first and second floor office accommodation and four floors of additional office accommodation. The offices comprise a mix of cellular and open plan offices across the first three floors with a store room provided at basement level.

The offices are fitted out with suspended ceilings, fluorescent lighting, plastered and painted walls, carpeted floors and perimeter trunking.

Access to the offices are via two separate entrances at the front of the building; the main entrance and a smaller staff entrance. In addition there is a separate four-storey over basement building which was previously used for residential purposes..

The building is segregated into three studio apartments and one duplex accessed via Stokes Place. A total of 20 car spaces are provided within a car park at basement level which is accessed via Harcourt Street.

Brehon's decision to flip the property so quickly is of little surprise. The firm is seen as looking to streamline its portfolio to exclude properties that do not fit into its overall strategy. Earlier this year it sold The Residences at the Marker Hotel for nearly €50m.

Meanwhile a site that has the capacity for as many as 25 two and three storey homes in Arbour Hill on Dublin's northside has been put on the market with Lisney with an asking price of some €2.9m.

The site is being offered by public tender.

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