A landmark building on Blackrock’s Frascati Road in south Dublin, with potential for a headquarter-style office, is being brought to market for €11 million.
The Frascati buildings, formerly occupied by Swiss insurer Zurich, is being offered with full vacant possession. The property has planning permission for a significant extension and refurbishment to produce a new landmark office HQ, comprising 4,530sq m (48,775sq ft) net internal area over six levels, with dedicated tenant amenity and 18 parking spaces at lower ground level.
The plan also includes a new penthouse floor on the fifth storey adding 465sq m (5,005sq ft) to the net area, while providing generous outdoor terraces and impressive views over Dublin Bay. In addition, the planning allows for modernising the external appearance, while maintaining much of the original brickwork, and a new feature pavilion to the front façade would further enhance the connection with street level.
The property is being brought to the market by HWBC, who note that the opportunity to acquire an environmentally conscious asset, will be of particular interest to investors.
"The move towards high sustainability and environmental standards is now well established in the market and the renovation proposed in the approved planning permission for this building will deliver a building that puts best environmental practice at the heart of its design. The recycling of existing structures is high on the environmental agenda and this is a rare opportunity for forward-thinking investors," said Iain Sayer, director of investment at HWBC.
The property is located in the heart of Blackrock, a close walk from the nearby Dart station, in a village which has seen a renaissance in recent years through both public and private investment.
The Frascati Shopping Centre and Blackrock Shopping Centre, both a short walk from the Frascati buildings, have been refurbished of late, while significant investment in public cycling and walking infrastructure leaves Blackrock as an attractive HQ option for indigenous and multinational companies alike.