Business Irish

Saturday 29 April 2017

Harcourt office block on market for €28m

The Harcourt Building near St Stephen's Green
The Harcourt Building near St Stephen's Green

Donal Buckley

ONE of Dublin's best-known office blocks is up for sale.

The Harcourt Building near St Stephen's Green is being offered for sale for €28m, which would yield 8.63pc after standard purchaser's costs.

The Harcourt Building is a Grade A office building let to Investec Bank, Man Investments, Cuna Mutual and Starbucks for a rent of €2.5m. It has 5,217.9 square metres and 44 basement car parking spaces. Investec Bank accounts for 65pc of the current income with an unexpired term of five years.

The building is being offered for sale by receiver David Carson of Deloitte.

The focal point of the building is an impressive glazed atrium, designed in a quadrant shape, which contains two high-speed glass elevators and rises 23 metres above the central concourse allowing light to permeate throughout the building.

A recessed penthouse with wraparound balcony completes the building at roof level. The building was designed by architects Niall D Brennan and constructed in 2003.

Irish Independent

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