Prime Dublin 2 office investment seeking €2.25m

Suite 3 at Harmony Court is fully-let on new 15-year lease producing €163,725 per annum

Investors looking for a strong yield and secure income will be interested in a well-located office investment in Dublin 2 which has been brought to the market in by agent Knight Frank at a guide price of €2.25 million.

Located just 650 metres from Grand Canal Square, and at the heart of the capital’s core central business district, Suite 3 at Harmony Court is let to Harmony Accountants Limited trading as DKC Accountants, at an annual rent of € 163,725 per annum. Based on the guide price, the opportunity offers investors an attractive net initial yield of approximately 6.6 per cent after standard purchaser’s costs of 9.96 per cent.

The subject property comes for sale fully let on a new 15-year full repairing and insuring (FRI) lease to DKC Accountants incorporating five-yearly CPI-linked rent reviews. There is a lease break option on the expiry of the tenth year, offering purchasers secure and passive long-term certain income to an established tenant.

DKC Accountants is an established and highly successful boutique accountancy firm which was founded in 1992. The founding members have been practising for over 30 years. While providing the full suite of all accounting, auditing, tax, management, and compliance services the firm focuses on niche sectors of the market, to include the live music industry, franchising, technology and hospitality, leisure and tourism.


Public transport links

Suite 3 Harmony Court comprises a ground-floor office suite and extends to a 316.34 sq m (3,405 sq ft) along with three secure basement car parking spaces.

The office space is finished to a high internal specification which includes air conditioning, Cat 5 cabling, suspended ceilings with recessed lighting and raised floors incorporating floor boxes, male and female WCs and kitchen facilities. Floor-to-ceiling feature glazing provides the office space with ample natural lighting.

Harmony Court meanwhile is a six-storey over-basement level office block, with an attractive curved glass facade. The property is surrounded by a landscaped courtyard. Other occupiers within the development include Fusioneer, Nogra Pharma Limited, Sacyr, HLB Ryan & Co, Richmond Marketing and PML Group.

Harmony Court is well served by public transport. Pearse Street Dart is just 400 metres away while numerous Dublin Bus routes and the Luas light rail system are to be found within a short walk of the property.

Ronald Quinlan

Ronald Quinlan

Ronald Quinlan is Acting Property Editor of The Irish Times