Friday 22 June 2018

South Dublin office block with a €1.45m guide price

Savills is quoting €1.45m for the Whitewell office building in Dun Laoghaire
Savills is quoting €1.45m for the Whitewell office building in Dun Laoghaire
Peter Flanagan

Peter Flanagan

Savills is quoting €1.45m for a 21,000 sq ft office block in Dun Laoghaire in south Dublin.

The brokerhas been retained to sell the entire of Whitewell House on Pottery Road. The asking price equates to approximately €66 per sq ft inclusive of car parking spaces.

Whitewell House is a standalone, three storey over basement office building. Completed in the 1970s, it was fully let until this year so has a modern fit out including partitioned offices and meeting rooms, carpeted floors and suspended ceilings. It also has 74 surface car parking spaces.

The property is located within Pottery Industrial Park which lies between the Cabinteely Bypass and Rochestown Avenue.

According to Savills, Whitewell House will appeal to a broad range of owner occupiers, investors as well as developers. Located within an area zoned E under the Dun Laoghaire Rathdown County Council Development Plan, a wide range of uses may be permitted for the site including retail, offices, industry, medical and education. Furthermore, the building could have potential to add space in the future on the ground floor, subject to planning.

Callum Hudson who is handling the sale anticipates strong interest in the building.

"Whilst demand for office space in Dun Laoghaire has been intermittent in recent years, this market is now starting to show strong signs of recovery.

"We are beginning to see steady increases in take up which is putting upwards pressure on rents and capital values. We expect interest from investors and owner occupiers."

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