Agent QRE Real Estate Advisers is guiding a price of €3.5 million for a multi-let office investment in the heart of Dublin’s traditional central business district. Located within a short walk of the offices of the Department of Finance, Government Buildings and the five-star Merrion Hotel, 142-143 Baggot Street comes for sale on the instruction of receivers Deloitte with several tenants already in place and is generating about €202,000 in annual rental income. That figure has the potential to increase to around €347,000 once the building achieves full occupancy according to the selling agent.

The subject property briefly comprises three floors of office space with dual access off Baggot Street Lower and Rogers Lane. Recent leasing activity has strengthened the investment’s income profile with Ryan & Lamb Architects agreeing a new 10-year lease from September 2025 on the third floor and Sony extending their current agreement, which is now an 11-year nine-month lease from July 2015. The first floor, which extends to 334sq m (3,600sq ft) is vacant, with the selling agents quoting €39.50 per square foot.

Should a sale proceed at the €3.5 million guide price, the new owner would be in line for a net initial yield of 5.27 per cent based on the current rental income of €202,000. With full occupancy and projected rental income of €347,000, the reversionary yield would be 9 per cent.

David O’Malley of QRE Real Estate Advisers says: “This property is a compelling investment opportunity, combining secure income from well-established tenants with clear potential for value enhancement. The asset provides strong demand prospects and capital-growth potential. It should attract local investors, family offices and owner-occupiers looking for a high-quality office investment with upside potential.”