Sunday 18 March 2018

Tallaght office's price cut by 38pc to €1.2m

Block 5 Tallaght Retail Park was on sale originally for €1.95m
Block 5 Tallaght Retail Park was on sale originally for €1.95m
Ronald Quinlan

Ronald Quinlan

The former UPS offices at Tallaght Retail Park in Dublin have been relaunched to the market for the reduced price of €1.2m - a full €750,000 less than the €1.95m that had been sought by agents Savills when they offered the property for sale originally last May.

Situated within a mixed-use development, the 3,540 sq m (38,100 sq ft) property offers what the agents believe to be "superb value" at price of €31.49 per sq ft.

Tallaght Retail Park itself is located within close walking distance to the Square Town Centre. The area benefits from excellent transport links with access to the M50 from the old Blessington Road, which runs adjacent to Block 5. Public transport to the area is also excellent, with the Luas Red Line stop located within a short walk of the building.

Commenting on the property, Kevin O'Reilly of Savills said: "The suburban office market is preforming very well at present and with the continuing shortage of city centre office stock, we expect continued strong performance and increased rental levels."

"The asking price equates to just over €31 per sq ft, a fraction of the construction cost. Block 5 offers purchasers significant value for money, and we expect the property to appeal to cost-conscious occupiers who are not location-sensitive and to investors looking to create a high-yielding investment," Mr O'Reilly added.

Tallaght's amenities include the Square Shopping Centre, the Plaza Hotel, the Glashaus Hotel and UCI Cinema.

Indo Business

Business Newsletter

Read the leading stories from the world of Business.

Also in Business