Commercial Property

Three office suites in Sandyford bought for €3.65m

Investments in The Mall, Beacon Court, will show yield for 6.8% on nearly 11,000sq ft

The Mall, Beacon Court, Sandyford, Dublin 18.

Tue Oct 2 2018 - 18:00

A private investor has bought three office suites at The Mall in Beacon Court, Sandyford, Dublin 18, for €3.65 million.

The purchase price will show a net initial yield of 6.8 per cent. This will rise to 7 per cent in 2021, when the annual rent roll is due to be increased from €269,400 to €280,000.

The end-of-terrace suites at the southern end of the enclosed glazed mall interconnect at floor level and provide a gross floor area of more than 981sq m (10,569sq ft). The three units share15 basement car parking spaces.

The Beacon Hospital in the same development holds a 20-year lease from 2016 at a passing annual rent of €269,400 up to 2021. There will be a fixed uplift to €280,000 per annum from 2021 to 2026, at which point the rent is due to revert to market levels.

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Joint agents Stephen Conway of Colliers International and Nick O’Loughlin of Turley Property Advisers handled the sale. Matthew Vanston, BNP Paribas Real Estate, represented the purchaser, a private investor.

Beacon Hospital