South Dublin office investment guiding at €625,000

Agent TWM is guiding a price of €625,000 for an office investment in south Dublin, which it expects to be of interest to both investors and owner occupiers

Ashgrove House, is located within a secure industrial estate accessed off Kill Avenue, the main link road between Dún Laoghaire and the N11. The property is close to IADT, Dún Laoghaire, a third-level college with more than 2,500 students.

The building is three-storey and currently used as a serviced office centre. The building extends to about 581sq m (6,255sq ft) and the ground floor currently offers communal rooms for the occupiers such as a boardroom and reception. There is surface parking for 15 cars to the front and side of the building.

At present the building is partially occupied by three licensees and produces total rental income of €19,680 per annum. The current owners produce a substantial amount of additional income through the provision of services such as virtual offices, telephone answering and other administrative services.

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Mark Kelly of TWM says: “At a capital value of approximately €100 per square foot, this property should appeal to a variety of potential purchasers. Owner occupiers may wish to occupy the property and let out additional rooms to supplement their revenue, while investors may wish to secure vacant possession and let out the property to one tenant or continue with the current model of a serviced office centre.”