Fully-let Harold's Cross offices at €1.75m promise 7.3pc initial yield
Andre Berg of agent CBRE is quoting a price of €1.75m for Century House, a landmark office building located in Harold's Cross, Dublin 6W.
A former parochial hall constructed in 1882, the property now consists of open-plan and cellular offices extending to 594 sq m (6,393 sq ft) over two floors. There are 12 car parking spaces.
The building is fully let to PKF O'Connor, Leddy & Holmes Ltd under the terms of a 25-year lease from December 1, 2001. There is a tenant break option on November 30, 2021. PKF O'Connor, Leddy & Holmes is a full-service firm of accountants and business advisors and a member of the PKF International Network.
The property is producing an annual rent roll of €133,500. Based on the asking price of €1.75m, the prospective purchaser can expect to secure an initial yield of 7.3pc, with reversionary potential.
André Berg of CBRE says: "We would anticipate strong levels of interest in this investment given the lot size and strong covenant. The property is ideally located within close proximity to amenities and just 4.8km south of Dublin city centre. The price reflects an attractive yield and capital value per square foot of €290. We are anticipating strong interest from private investors."