Buyers sought for offices in Merrion Square and Aungier Street

Agents Knight Frank are to seek buyers for two Dublin office investments – a Georgian house at 36 Merrion Square and a modern office complex at 4 Whitefriars on Aungier Street.

Damian McCaffrey of the agency is guiding €5.25 million for the four-storey over basement building on Merrion Square which is larger than usual with a floor area of 822sq m (8,850sq ft). It is let in its entirety to Bank of Ireland and Brightwater Recruitment with an average unexpired term of 10.6 years. The rent roll is €348,000.

The bank leases the ground floor and basement while Brightwater occupy the upper floors. There are no break clauses in the leases which provide for upwards only reviews.

McCaffrey is suggesting €700,000 for the Whitefriars investment, a self contained office property beside DIT’s Kevin Street and Aungier Street colleges. The three-storey mid-terrace building extends to 149sq m (1,600sq ft) and is let to Irish Welcome Tours at a rent of €76,000 per annum. The upwards only lease with no break options has another 11 years to run. The office comes with three car-parking spaces.