Dublin offices for market
The Bishops Square office block on Kevin St, Dublin, half of which is controlled by the receiver to Belltrap, is expected to come to the market in the near future according to market sources. A possible price of around €60m. is being speculated upon.
Occupants of the six-storey block include the Department of Justice which is reported to be paying a rent of €1.525m a year and the Revenue Commissioners who are paying around €1.495m.
Located at the junction of Kevin St, Aungier St, Wexford St and Cuffe St, the high profile block comprises 14,150sqm of accommodation.
It was developed by Bernard McNamara and Jerry O'Reilly and their company Belltrap retained a half share of the building. The other half is held by the Irish Property Unit Trust (IPUT) which bought its share in the building in 2002. Tenants also include News International, the Murdoch-owned publishers of the Sunday Times and the Sun newspapers.
Estate agents Savills referred all queries to IPUT and neither IPUT nor the receiver returned calls.