€3.3m guide price for multi-let office investment in Dublin’s IFSC

A high quality multi-let office investment in Dublin’s IFSC comes on the market today through agents JLL at a guide price of €3.3 million.

At that valuation, the two interlinking buildings at 10-11 Exchange Place will show a return of 6.4 per cent.

The buildings extend to 768 sq m (8,270 sq ft) and are producing an annual rent roll of €222,000, reflecting rents of between €1.90 to €3.71 per sq m (€20.55 to €40 per sq ft).

The ground floor is occupied by Corporate Health Ireland, a specialist occupational health provider; Blueface, a high growth IT and telephony service firm with operations in Europe; and another company named Millex Ltd. The weighted average lease has over six years to run.

The building was designed in 1997 specifically to cater for small tenant demand in the IFSC. Max Reilly of JLL said that typically office investments in the IFSC were accessible to only large institutions.

However, Exchange Place would be of interest to private investors seeking a strong return from an office investment in the area.