Office Building in Dublin for Sale, Lease Agreement Ends 2036, Freehold
Property type: office building
Purchase of established rental business
Class: Prime Grade A Office Building
Tenure: freehold
Location: the Northside of Dublin, Ireland
Construction date: 1980’s
Full renovation: 2016
Technical condition:
• building is in excellent condition
• additional investments in renovation or refurbishment are not required
Building size: ca. 2,200 m2
Area size: ca. 2,400 m2
Car parking facilities: 20 spaces
Tenant: marketing company
• single tenant
• occupancy: 100%
Lease Agreement ends: 2036 (the lease incorporates tenant only break clauses in 2021, 2026, 2031 of the term subject to 9 months’ notice and 9 months’ rent penalty on each occasion)
• Possibility of renewal: YES
• Rent Review: 2021, 2026, 2031 (the lease incorporates 5 yearly open market rent reviews)
Purchase price: 12,400,000 euro
(+ closing costs)
Rental Income: 855,000 euro per annum
(+ indexation linked to inflation)
Net Yield: 6.9%