Two Dublin office investments for sale at €4.4m and €1.6m
Block 8 at Richview Office Park in Dublin 14 will show a net initial yield of 7.94%
Richview Office Park tenants include Liberty Mortgage Corporation, Paddy Power, Omnicom Media group, Topaz and Novartis
There are more than eight years to run on the five tenancies in Castle House, Rathfarnham
Two south Dublin office investments with guide prices of €4.4 million and €1.6 million are to be offered for sale by Cushman & Wakefield on behalf of Gannon Properties.
The three-storey block with a net internal area of over 994sq m (10,708sq ft) is let to Liberty Mortgage Corporation on a 25-year lease from July 2007, at a rent of €365,350. The weighted average lease period is 5.12 years. The office block also comes with 32 surface car parking spaces.
Cushman & Wakefield is also asking in excess of €1.6 million for Castle House, Rathfarnham, which will show a yield of 7.60 per cent. There are more than eight years to run on the five tenancies, Permanent TSB Bank, Corporate Undewriting Ltd, Insights World Learning Ltd, Enigma Grill and a residential tenant. The combined annual rent is €127,250.
PTSB occupies the ground floor retail unit, and have been based there since 1996. The company recently renewed the lease for a further 15 years with a break in year 10. Its current rent is €53,500. The Enigma Grill trades from the lower ground floor. The purpose-built block dates from the 1990s and has an overall floor area of over 834sq m (8,985sq ft).