An 11 year-old office building, Pepper Canister House, at Mount Street Crescent, Dublin 2, is to be sold by solicitors Ivor Fitzpatrick following its decision to move to larger premises formerly occupied by Arthur Cox at 44/45 St Stephen's Green. Pepper Canister House is to be sold at auction on December 8th.
Joint agents DTZ Sherry FitzGerald and Davin are quoting in excess of £3.25 million for the 10,000 sq ft building, which has four-storeys as well as a penthouse level with mansard slated roof. There is a lift and 12 car-parking spaces and an attractive sculpture at the front entrance, which has helped to increase the profile of the building. The agents anticipate that the block can be let for at least £22 per sq ft if bought by an investor. Alternatively, it should also appeal to medium-sized companies and professional practices which want to acquire their own headquarters at a time of low interest rates.
Ivor Fitpatrick's legal practice, which employs 27 solicitors, will be renting about 16,000 sq ft on St Stephen's Green, where the modern building is owned by Bank of Ireland Asset Managers. The current rent of £164,000 is due to be reviewed next February.
