Monday 23 October 2017

Upper Ormond Quay offices for €1.9m

Equity House
Equity House
Ronald Quinlan

Ronald Quinlan

Equity House on Dublin's Upper Ormond Quay has been brought to the market by agents CBRE for €1.9m.

The building occupies a prominent city centre location and is situated in close proximity to the Four Courts and opposite the headquarters of Dublin City Council at Wood Quay.

The property comprises a four- and part five-storey office block with ground-floor retail space and an adjoining ground floor car park for seven to eight cars. The building's entrance on Arran Street East opens into a reception with an eight-person lift providing access to the upper floors.

The remainder of the ground floor consists of a retail unit on the corner of Ormond Quay and Arran Street East and an office unit, which is currently vacant, with an independent entrance.

There are eight tenants on a mixture of long- and short-term tenancies producing a gross rent of €204,005 per annum.

The tenants include Educate Together, Rochford Gibbons Solicitors, Frank Ward & Company Solicitors, Aylien Limited and Rogers Group Investments.

Commenting on the opportunity Equity House presents, CBRE's Stephen Aherne said: "This city centre location will make it attractive for investors as the office market is in full resurgence. It's a fantastic asset-management opportunity which will be very attractive to any investors who are looking to add value."

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