£4.25m for office on Mount Street

With good quality office space in particularly short supply in Dublin, a range of professional firms as well as investors are likely to pitch for a Georgian office building at 34 Mount Street, Dublin 2, which goes to auction on April 12th.

Ross Shorten of Lisney is quoting a guideline price of £4.25 million for Mount Herbert Court, an end-of-terrace building standing four-storeys over basement. It has a dual frontage, 5,290 sq ft of floor space and 18 car-parking spaces.

The freehold building looks directly over the Pepper Canister Church. It also adjoins the new Herbert Street offices of Matheson Ormsby Prentice.

Internally the building is particularly well maintained and has a handsome entrance hallway and reception area. A sweeping staircase rises to the first floor where there is a large boardroom.

The building is being sold on behalf of accountants and business advisers Chapman Flood Mazars, which is to relocate to larger offices later this year. The extra space is needed following the merger of two practices two years ago. The sale is not due to close until the end of December.

Mount Herbert Court may well be bought by one of a large group of private investors who have been scouring the market looking for a gilt-edged investment opportunity. Some of those chasing investment properties have made fortunes in the computer and property markets.

They are likely to be in competition with a range of professional companies which have seen their businesses expand in recent years as a result of the economic boom.

Palmer McCormack are joint selling agents on the building.