€8.25m for pension fund’s D2 office block

A substantial office building in Dublin city centre which could be given a new lease of life if refurbished is to be offered for sale on behalf of the Irish Airlines Pension Fund.

John Moran of Jones Lang LaSalle is quoting in the region of €8.25 million for Block 2 at Clanwilliam Court on Lower Mount Street, Dublin 2, which is partially vacant and producing a rental income of €528,300.

The same pension fund recently sold four other office buildings also dating from the 1970s and a Tesco store to the Irish Property Unit Trust for €58 million.

The six-storey over double basement building is one of seven at Clanwilliam Court and has an overall floor area of 4,450sq m (47,902sq ft) and 105 car-parking spaces.

Tenants
The ESB is currently renting the fourth and fifth floors, the Society of Actuaries occupies part of the ground floor and there is a range of short term car-parking licences.

The layout of the block allows for the very considerable flexibility of having two or three separate tenants on the same floor with their own entrances from the lift lobbies.

Floor plates are around 743sq m (8,000sq ft).

Two eight-person lifts service each of the floors.