Grantham House investment guiding €4.5m

Dublin 8 retail and office property produces rent roll of €237,550 from five tenancies

Grantham House is at the junction of Grantham and Camden streets

Grantham House is at the junction of Grantham and Camden streets

 

A retail and office investment on a busy Dublin 8 corner is guiding €4.5 million through agent Cushman & Wakefield.

Grantham House, at the junction of Grantham and Camden streets, extends to 900sq m (9,688sq ft) and consists of two retail units at ground floor level with three stories of offices overhead.

It is fully occupied and producing a rent roll of €237,550 from five tenancies with a weighted average unexpired lease term of three years. Fostering First Ireland, the Psychological Society of Ireland and National Tile Ltd account for 91 per cent of the rent.

Given that the office rents average 215 per sq m (20 per sq ft) – well below market rates of 413 per sq m (40 per sq ft) – there may be scope to increase the rent roll in the medium term.

The property is being sold by Alan Conway of Alway Consulting Ltd on behalf of Ballybunion Capital.