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Bloodstone & Central Quay, Silicon Docks, Dublin 2

Investment Property (142,797.00 sqft) Sold
of

Sold

Location

Dublin's Silicon Docks district is the most vibrant office markets in Ireland, home to upwards of 40,000 employees.

Characterized by ultra-modern office blocks and a highly educated international workforce, Silicon Docks has become the prime choice for Dublin-based tech and corporate occupiers.

Extremely well connected, the area is serviced through train, bus and tram services at Barrow Street, Spencer Dock and Pearse Street, all within 10 minutes walking distance of the Assets.

Full Description

The Bloodstone and Central Quay buildings (together, the “Assets”) present a rare opportunity to acquire two ultra-modern, interlinking office buildings situated in the heart of Dublin’s leading technology submarket, the “Silicon Docks”.

Executive Summary
  • Completed in 2007, the 85% leased Assets feature 142,797 sq ft of high-quality office accommodation in the Silicon Docks,home to the world’s largest and fastest growing technology companies including Google, Facebook, AirBnB, Twitter, and Bloomberg.
  • Long-term secure in-place income with 9.5 years WALT (expiry) (4.6 WALT (break)).
  • High profile tenancy roster including SEB Life, TripAdvisor, LogMeIn and AWAS Aviation.
  • Highly reversionary in-place rent of €37.43 per sq ft, which is 29% below current market rent of €50–55 per sq ft.
  • Significant income growth potential through rent review uplifts and the leasing of vacant space.
  • Prime office rents in the “Silicon Docks” increased by 15% in the first 6 months of 2015 to €52 per sq ft and the vacancy rate for modern office space declined to 3.3%.
  • Total rental growth for Dublin prime office assets is expected to outstrip every comparable global city over the next 5 years.
  • Delivered free and clear of existing debt, allowing future ownership to take advantage of ultracompetitive pricing in today’s real estate debt markets.

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Website 

www.silicon-docks.com

Viewing Details

By special appointment with the sole letting agent, Lisney.

Contact Details

Address: St Stephen's Green House, Earlsfort Terrace, Dublin 2
Telephone: +353-1-638 2700 or you can also email us at dublin@lisney.com

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.

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