Park House on NCR to headline latest Allsop Space auction

One of the highlights of the May 2nd auction of commercial properties by Allsop Space will undoubtedly be the sale of Park House and Kirwan House on the North Circular Road in Dublin 7.

A reserve range of €5.5 million to €6 million has been set for the 10,501sq m (113,034sq ft) Park House and the 171sq m (1,850sq ft) Kirwan Hou- se, which stand on a site of 0.72 of a hectare (1.79 acres).

The buildings are about 40 per cent occupied and currently producing a rental income of more than €740,000.

Even if the investments only manage to make €5.5 million, the new owner can bank on a net initial yield of 12.88 per cent with potential to further bolster the return from the vacant space, which runs to 7,373sq m (79,367sq ft).