Property Detail

Office Building in Dublin for Sale, Lease Agreement Ends 2036, Freehold

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%

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http://www.brantstone.com/property/office-property-for-sale-in-dublin-ireland-09033148 09033148 Office Building in Dublin for Sale, Lease Agreement Ends 2036, Freehold