A Sandyford office suite occupied on a new 20-year lease to a financial brokerage is guiding more than €1.8 million through agent Savills.
The suite extends to 92.2sq m (9,991sq ft) and is on the ground floor of the modern, five-storey Courtyard office block at Carmanhall Road in Sandyford Business Estate, Dublin 18.
This third-generation office space includes air conditioning, suspended ceilings, raised access floors and canteen facilities.
The office, located a two-minute walk from Stillorgan Luas station, also has easy access to the N11 and M50.
The suite is rented by Arachas Corporate Brokers at €165,289 per annum, which suggests a yield of 8.8 per cent assuming the sale price is achieved.
Rent reviews, which can be upward or downward, are due every five years, and the tenant also has the use of 16 car-parking spaces under this lease.
Arachas is one of Ireland’s largest independently owned insurance and risk-management brokerages. It was established in 2004 and employs 130 with offices in Dublin, Cork and Waterford.
Sovereign Capital, the UK private equity buy-and-build specialist, recently completed a significant investment in the business, which supported a management buyout.