€8.5m for Dublin 2 office block

With the continuing demand for office space in Dublin's central business district there is likely to be considerable interest in Block One at Clanwilliam Court, Lower Mount Street, Dublin 2, which is to be sold by private treaty.

Joint agents HWBC and Knight Frank are seeking offers in excess of €8.5 million for the block which has a net floor area of 3,032sq m (32,647sq ft) and basement car parking.

While the building provides an interesting refurbishment opportunity, planning permission was recently extended to November, 2018, for the replacement of the block by a new six-storey building that would extend to 4,459sq m (48,000 sq ft).

The basement was designed for car parking and ancillary services.

Clanwilliam Court, originally developed by the Clancourt Group in the 1970s, is ideally located on the Mount Street frontage of the office campus, diagonally opposite the impressive Bord Gáis headquarters.

The area has benefitted greatly from a number of top- class developments in nearby Barrow Street, none more impressive than Google’s European headquarters.

With new office blocks now under construction again in the city following the arrival of ever more overseas high-tech companies, Clanwilliam Court will inevitably be targeted either by an owner-occupier or a developer waiting to cash in on the next round of rent increases.