Tuesday 23 October 2018

Prime office opportunities in the heart of Dublin city

CBRE is guiding €3.75m for ground floor offices at Shelbourne Plaza in the South Docks
CBRE is guiding €3.75m for ground floor offices at Shelbourne Plaza in the South Docks
CBRE is guiding €1.1m for a penthouse office at the Capel Building at St Mary’s Abbey
Ronald Quinlan

Ronald Quinlan

Agent CBRE is guiding a price of €3.75m for Shelbourne Plaza, a modern office space extending to 5,685 sq ft, located at Charlotte Quay in the thriving South Docks area within the Dublin Docklands.

Shelbourne Plaza comprises a ground floor own door office unit with profile onto Ringsend road beside Arup and The Watermarque Building.

The space is presented in 'Grey Box' condition with extensive road frontage and provides a blank canvas for an occupier to stamp their identity on.

Alex Fahey, who is handling the sale on behalf of CBRE, says: "This is a rare opportunity to purchase a self-contained modern office in Dublin's South Docks. The property presents an excellent investment opportunity for potential purchasers and an ideal letting prospect in a locality with low vacancy and high demand."

The South Docklands has in recent years established itself as one of Dublin's leading office districts and is now home to some of the world's largest international corporate occupiers, including tech giants Google and Facebook, Accenture and blue chip law firm Mason Hayes & Curran,

Intending occupiers of Shelbourne Plaza will have the choice of numerous amenities within a short walk including the Marker Hotel, The Maldron, Bord Gais Energy Theatre, The landmark Ferryman pub, Charlotte Quay Restaurant, Flyefit and the new urban quarter which is currently under construction at Boland's Quay.

Elsewhere in the city, CBRE is guiding a price of €1.1m for a penthouse office suite at the Capel Building.

Unit 511 extends to approximately 2,468 sq ft and is being sold with the benefit of full vacant possession. Located on the penthouse floor of the building, the office currently accommodates 48 desks arranged in an open plan layout along with two large meeting rooms.

Unit 511 is south facing with large floor-to-ceiling windows and benefits from a private balcony with views of the city.

The Capel Building is a five-storey over-basement mixed-use building with multiple tenants on each floor. The building's various amenities include a reception area, controlled-access lifts, shower facilities, as well as an onsite gym and cafe.

The building is well-located along Mary's Abbey Street with frontage onto Capel Street and Strand Street Little, and within walking distance of the full range of amenities offered by Dublin city centre.

The area surrounding the Capel Building meanwhile is expected to undergo a major transformation over the coming years as the plans of several developers and investors come to fruition.

In the first instance, developer Noel Smyth's plans for the property portfolio he secured from his invesyment vehicle Fitzwilliam Finance Partners' sale of its 50pc stake in Arnotts to the Selfridge Group, is expected to bring a new lease of life to Middle Abbey Street and its immediate environs.

O'Connell Street meanwhile is poised to regain its position as Dublin's premier thoroughfare following the planned redevelopment of Clerys former department store by Deirdre Foley's Natrium and the anticipated delivery by UK retail giant, Hammerson, of the Dublin Central site.

Commenting on the opportunity the Capel Building presents, CBRE's Alex Fahey says: "This attractive penthouse office is presented in pristine condition throughout and will appeal to a range of occupiers including tech companies, law firms, financial services and professional services. This unique property offers a new purchaser an opportunity to own an office suite with transport links on its doorstep."

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