Tuesday 27 September 2016

Lad Lane office on short term lease

Tara Fitzsimons

Published 26/05/2016 | 02:30

Colliers is quoting €575,000 for the property
Colliers is quoting €575,000 for the property

Colliers International have been instructed to dispose of 10 Lad Lane, Dublin 2 - a mews building currently in office use, held on a short term lease.

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The property comprises a two storey, mid terrace mews currently in office use which extends to 1,420 sq ft net internal area and includes two car spaces and a secluded rear garden.

The property is let on a short term lease to Imagine Marketing Promotions, at a rent of €30,000 per annum which expires in August 2018.

Lad Lane provides a mix of high quality residential and commercial uses. Although the property is currently in office use, the purchaser may consider conversion to a residential use, SPP, at lease expiry.

Colliers International is quoting €575,000 which equates to a net initial yield of 5pc after allowing for standard purchasers costs of 4.46pc and a capital value of €400 per sq ft.

The agents say Lad Lane is undergoing significant redevelopment with the new LinkedIn headquarters currently under construction.

As well as the LinkedIn activity, the redevelopment of the former Bank of Ireland HQ Miesian Plaza on Baggot Street is expected to further add to the appeal within the immediate area.

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