Monday 20 November 2017

€4.95m for offices with State tenants

Ronald Quinlan

Ronald Quinlan

Dublin's Bridgewater Business Centre, a fully-let office investment with an annual income of €433,775, has been brought to the market for a guide price in excess of €4.95m.

Located on Conyngham Road, Islandbridge, the three-storey office campus is close to Heuston Station and the Criminal Courts of Justice.

With 78pc of its income derived from two State tenants - CIE and the HSE - Manus Agnew of agents Quinn Agnew expects the building, which has an initial yield of 8.4pc, to attract interest from private investors and pension funds seeking secure income with future reversionary potential.

Extending to 2,267 sq m (24,401 sq ft), the property comes with 48 car spaces.

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