Block 9A in Dublin’s Park West for €900,000

Three-storey office premises has floor area of 1,567sq m

Another office building at Park West Business Park in Dublin 12 is for sale at a significant discount.

Patricia Ward of DTZ Sherry Fitzgerald is guiding €900,000 for Block 9A, a three-storey end-of-building with a floor area of 1,567sq m (16,867sq ft) which is for sale on the instructions of Tom Kavanagh of Deloitte.

The ground floor extending to 536sq m (5,985sq ft) is let to ADT Fire & Security on a five-year lease from July 2012, at a rent of €40,000 per annum. It also has use of eight of the 24-designated car parking spaces.

The hugely attractive quoting price reflects a sales price of €53.35 per sq ft – substantially less than replacement costs apart altogether from the site valuation.

The building offers considerable reversionary potential once the vacant floors have been leased.

Jack Fagan

Jack Fagan

Jack Fagan is the former commercial-property editor of The Irish Times