Three-storey block at EastPoint Business Park in Dublin for €4.95m

Block G measures 2,463sq m and rents two of its three floors for €160,500 a year

Colliers International is quoting over €4.95 million for the modern three-storey Block G at EastPoint Business Park in Dublin 3 which produces a rent of €160,500 a year. The building, with one vacant floor, extends to 2,463sq m (26,5121sq ft) and comes with 49 car-parking spaces.

At the €4.95 million valuation the capital value of the building is €2,013 per sq m (€187 per sq ft).

One of the tenants, Misys, occupies the first floor on a seven-year lease from 2012 with a break option in February 2017, but subject to a six-month rental penalty. Its rent is €75,500 per annum.

The second tenant, Activision Blizzard, rents the second floor on a 10-year lease from 2011 with break options in years five and seven. The rent is €77,999 plus €7,000 for additional parking spaces.

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The rent roll can be increased by leasing the ground floor which measures 802sq m (8,632sq ft) along with 15 car spaces.

Jack Fagan

Jack Fagan

Jack Fagan is the former commercial-property editor of The Irish Times