Price Guide price €7,000,000
- Suburban office investment in the centre of Sandyford Business Park
- Gross internal area of approximately 1,893 sq.m (20,384 sq.ft)
- Combined rental income of €568,678 per annum
- Strong tenant covenant including Smith & Williamson and PrePay Power Limited
- Tenants not affected by the sale
- Weighted average unexpired lease term of approx. 5 years to break option and 12 years to expiry
- Guiding in excess of €7,000,000 which equates to a net initial yield of 7.50%
Sandyford Business Park is located approximately 8km south east of Dublin city centre and is considered the premier suburban office location in South Dublin. The area benefits from a wide range of amenities including the nearby Beacon South Quarter, Beacon Hospital and Hotel. The excellent transport infrastructure in the area underpins occupier demand for office accommodation within the park. Major occupiers within the park include Microsoft, Google, Computershare, Grafton Group PLC, Regus, Chill Insurance, Dun and Bradstreet, Bank of America Merril Lynch to name a few.
Paramount Court is a high profile office development situated in the centre of Sandyford Business Park overlooking the junction of Corrig Road and Three Rock Road, just north of Blackthorn Drive. The building is multi-tenanted with occupiers including Hamilton Young Architects, B2E “The HR Company” and PrePay Power Limited.
The M50 motorway is located 1km south of the property and provides direct access to the country’s main roadway network. The LUAS Green line station is just 650m north of the property, providing commuters with a 20 minute travel time to Dublin city centre. There are also numerous bus routes providing transport to and from the city centre and onwards to Blackrock and surrounding suburbs.
The property comprises the second and third floor within the Paramount Court development constructed c. 2002. The sale also includes 40 no. car parking spaces situated at basement level.
Access to the office accommodation is provided via the main shared reception area at ground floor level and from the basement using the two passenger lifts or main staircase within the building.
The office floor plates are “L” shaped and provide for a mixture of open plan and cellular office space and kitchenette facilities. Two six person elevators serve the entire building.
Each floor provides for steel raised access floors, with high power data cabling, suspended acoustic ceiling tiles and temperature is regulated via recessed air handling system. Toilets are provided in the entrance hall upon exiting the elevator system.
By special appointment with the sole letting agent, Lisney.
The approximate Gross Internal Areas (GIA) are as follows:
*Rent review has been agreed on a floor area of 9,835 sq.ft
** Rent review has been agreed on a floor area of 10,000 sq.ft
All intending purchasers are specifically advised to verify the floor areas and undertake their own due dilligence.
Address: St Stephen's Green House, Earlsfort Terrace, Dublin 2
Telephone: +353-1-638 2700 or you can also email us at firstname.lastname@example.org
Lisney for themselves and the Vendor/Lessor whose Agents they are give notice that:
1. These particulars do not constitute any part of an offer or contract.
2. All statements contained in these particulars as to this property are made without responsibility on the part of the Agents or the Vendor/Lessor and none of the statements contained in these particulars as to this property are to be relied on as statements or representations of fact.
3. The particulars, various plans, photographs, dimensions, references to condition and permissions for use and occupation are given in good faith and are believed to be correct but their accuracy is not guaranteed and any intending Purchasers or Tenants shall satisfy themselves by inspection or otherwise as to correctness of each of them. No omission, accidental error or misdescription shall be ground for a claim for compensation or for the rescission of the contract by either the Vendor/Lessor or the Purchaser/Tenant.
4. Neither the Vendor/Lessor nor Lisney nor any person in their employment has any authority to make or give any representation or warranty whatever in relation to the property. 5. Prices are quoted exclusive of VAT (unless otherwise stated) and all negotiations are conducted on the basis that the Purchaser/Tenant shall be liable for any VAT arising on the transaction. PSRA No. 001848.
Please note we have not tested any apparatus, fixtures, fittings, or services. Interested parties must undertake their own investigation into the working order of these items. All measurements are approximate and photographs provided for guidance only.