Prime Dublin city centre office investment guiding at €57m

Trinity Point on South Leinster Street offers third-generation sustainable space and State-backed income in key location

The prospect of a net initial yield of 4.14 per cent underpinned in the main by a State covenant coupled with the opportunity for increased rental income in the future should see significant interest from investors in the sale of Trinity Point in Dublin city centre. The property is being offered to the market by agent Cushman & Wakefield at a guide price of €57 million.

Built by Sisk and developed by its current owner, a private Irish investor in 2010, Trinity Point comprises a landmark six-storey over-basement office building extending to 4,060sq m (43,696sq ft) along with 20 secure basement car-parking spaces. Located at 10/11 South Leinster Street, the property overlooks Trinity College Dublin, sits adjacent to the National Gallery of Ireland and is within a short walk in either direction of the Kildare Street entrance to Dáil Éireann and the Upper Merrion Street entrance to Government Buildings.

While Trinity Point was developed more than a decade ago, prospective purchasers will note its status as one of the few third-generation sustainable office schemes available in the city’s central business district. The building was designed with an emphasis on sustainability, wellbeing and building efficiency, all of which are now key considerations for companies looking to locate their office operations.

Trinity Point employs a mixed-mode ventilation system, making it highly efficient from an energy-cost perspective. In terms of amenities for tenants, the property includes a landscaped courtyard and extensive terraced space on its fourth and fifth floors offering panoramic views over Trinity College and Dublin city centre.


The subject property is majority let to the Office of Public Works (OPW) on two full repairing and insuring leases expiring in March 2032. Its close proximity to Government Buildings makes the building a key location for the OPW, with the property housing a number of Government departments and associated Government Ministers.

With the OPW paying rents of between €592 per sq m (€55 per sq ft) to €635 per sq m (€59 per sq ft), the investment offers significant reversionary potential, according to the selling agent, with recent deals in the area achieving in excess of €700 per sq m (€65 per sq ft).

Clive Roche, of Cushman & Wakefield’s capital markets division, says: “Trinity Point offers investors the opportunity to acquire a well-located prime office investment, providing not only exceptional income security – in the form of the Irish Government – but also genuine reversionary potential. Given the asset’s strong underlying investment fundamentals we expect to see significant local and international interest.”

Ronald Quinlan

Ronald Quinlan

Ronald Quinlan is Property Editor of The Irish Times