10.6pc yield for D2 offices
A modern compact office investment property has come on the market at 3 Clanwilliam Square, Dublin 2, with a €450,000 asking price.
It is let to Transfusion Positive on an FRI lease that expires in February 2017 at a current rental level of €50,000 per annum. Suzanne Fitzgerald, investment divisional director at Knight Frank Ireland, who is handling the sale, says the asking price represents a net initial yield of 10.64pc, after allowing for typical purchaser costs of 4.46pc. The tenants are not affected by the sale.
Located adjacent to the high profile Treasury Building, 3 Clanwilliam Square is a the mid-terrace, two-storey unit which extends to 103sqm and is located on Grand Canal Quay.
Its accommodation comprises a large reception area, office and other facilities on the ground floor, with a conference room and two treatment rooms on the first floor. It also has three parking spaces.
It is 10 minutes walk from the centre and is close to a range of amenities including the Grand Canal DART station.