Eastpoint office block makes €3.8m

A private investor has paid in the region of €3.8 million for a modern three-storey office building in Eastpoint Business Park in Dublin 3.

Block G extends to 2,462 sq m (26,512 s q ft) and is producing a rent of €160,500 with one vacant floor of 801 sq m (8,632 sq ft). The site includes 49 car-parking spaces.

A London-based banking software company Misys occupies the first floor on a seven-year lease from February, 2012, with a tenant break option in 2017. The rent is €75,900. American gaming company Activision Blizzard rents the second floor on a 10-year lease from 2011 with break options at years five and seven. The company pays a rent of €77,900 along with an additional €7,000 for extra car parking spaces.

The rent roll can be increased by leasing the ground floor which measures 802sq m (8,632sq ft) along with 15 car spaces.

The sale was handled by Michele McGarry of Colliers International.