2-4 Claremont Road, Sandymount, Dublin 4

For Sale1,851 sq m
PriceGuiding €10.5M
B1
  • Unique office investment in Sandymount village, Dublin 4
  • Extensively refurbished two-storey office building
  • Extending to 1,851 sq m (19,920 sq ft) NIA
  • 16 parking spaces
  • Excellent covenant – Boulder Media Ltd. (Hasbro Inc. as guarantor)
  • Passing rent of €725,200 p.a.
  • Guiding €10.5M
  • www.2-4claremont.com

Full Description

www.2-4claremont.com

HWBC is pleased to present 2-4 Claremont Road to the market for sale, a newly refurbished HQ office building let to Boulder Media located in the picturesque setting of Sandymount, Dublin 4.

Sandymount itself is renowned for its village atmosphere in such close proximity the Central Business District, located just 3km southeast of the city centre and adjacent Ballsbridge to the west. The area benefits from excellent public transport including the DART service from Sandymount Station (within 5-minute walk of the building), numerous Dublin Bus services and the East Link Toll Bridge located close by providing ease of access to Dublin Airport.

The substantial two-storey building provides 1,851 sq m (19,920 sq ft) net internal area of efficient office accommodation with flexible floor plates providing excellent natural light throughout and a prominent profile overlooking Sandymount Green. The building occupies a generous site of approximately 0.198 hectares (.49 acres) with 16 designated parking spaces, extensive bicycle parking and over 40 metres road frontage to Claremont Road.

The village provides a wealth of local amenities, cafés, eateries and public houses and enjoys a unique setting by the sea with Sandymount Strand and Strand Road to the east. There are a number of public parks and high-quality hotels nearby including The Sandymount Hotel, The Clayton Hotel and The Intercontinental Hotel with major local landmarks including the RDS and The Aviva Stadium. The property lies adjacent to the Docklands Finance Centre or ‘Silicon Docks’ which is host to a number of high-profile occupiers including Google EMEA head offices, Accenture, Mason Hayes and Curran and BT. Ballsbridge itself is also a highly regarded commercial hub with occupiers including Goodbody Stockbrokers, IBM, Survey Monkey, Zurich, Bank of Ireland and Avolon and planning permission has recently been granted to develop over 320,000 sq ft of Grade A office space on the front portion of the AIB Bankcentre.

The property was originally let to the OPW on a 35-year lease from 1980 and the owners took the opportunity to refurbish the building to Grade A standards in 2017. The property was subsequently single-let by HWBC to Boulder Media Ltd. (with Hasbro Inc. as guarantor) on a 20-year lease from 22nd May 2017 at an annual rent of €725,200 p.a. The lease incorporates 5-yearly open market rent reviews with the first review due in May 2022. The Lease incorporates tenant only break clauses on the expiry of the 5th, 10th and 16th year of the term subject to 9 months’ notice and a penalty of 9 months’ rent on each option.

The tenant, Boulder Media Ltd. is an Irish animation studio established in 2000 and famous for such productions as; “Fosters House for Imaginary Friends” for Cartoon Network US, “El Tigre” for Nickelodeon “Randy Cunningham: Ninth Grade Ninja” for Disney UK and is currently in production for “Danger Mouse” for BBC amongst many others. Boulder Media Ltd. was acquired by Hasbro Inc. c. July 2016 and is now a wholly owned subsidiary. The Lease is guaranteed by Hasbro Inc., a long-established American multinational toy and board game company tracing its origins back to 1923 with famous for household brand names including Monopoly, GI Joe, Transformers, My Little Pony and many more.

Jenni MacNeaney, General Manager of Boulder Media commented, ‘Our crew are absolutely delighted with our studio space in Sandymount. It’s a creative space that perfectly fits the work we do – producing high-quality animation for some of the world’s best-known brands. Sandymount Village feels like a community, and the facilities and amenities, which are already extensive, are increasing all the time. Our cyclists and commuters appreciate that the Dublin Bus and DART are close by, and we have great tenant services on site. All in all, our crew sees our location and the amenities here as a terrific benefit, and it is certainly a selling point as we recruit new talent’.

HWBC is quoting €10.5M for the investment equating to a net initial yield of 6.37% (after normal acquisition costs of 8.46%).

Please contact Patrick Campion or Emma Murphy of HWBC (sole agents) for further information or to arrange an inspection.

Subject to Contract/Contract Denied

Property Contacts

Patrick Campion

Divisional Director

Email: pcampion@hwbc.ie

01-775 050701-775 0507

Emma Murphy

Divisional Director

Email: emurphy@hwbc.ie

01-775 051901-775 0519

2-4 Claremont Road, Sandymount, Dublin 4

For Sale

4 Claremont Rd, Dublin 4, D04 FA48, Ireland