- Rare opportunity to acquire part of, or an entire collection of three modern office buildings in a prime south suburban location
- High-profile location fronting on to the Frascati Road in Blackrock with stunning views over Dublin Bay and 5 minutes’ walk to Blackrock DART station
- Blackrock Park House – vacant 16,812 sq ft with 29 car spaces
- Zurich House – let to Zurich and producing €500,000 per annum, 22,221 sq ft with 29 car spaces
- Blackrock Hall – let to Zurich and producing €345,000 per annum, 11,376 sq ft with 21 cars
- Significant refurbishment and asset management opportunities
Full Description
A collection of three adjoining modern office buildings presenting refurbishment and asset management opportunities in the heart of Blackrock are for sale in individual lots. The three buildings combined provide 50,409 sq ft of office accommodation with 79 car spaces on a site area of approximately 0.48 acres and comprise the majority of a block of land running from George’s Avenue to Carysfort Avenue fronting the main Blackrock bypass. This is a rare value-add opportunity for investors or developers to benefit from the existing income in the short-term whilst considering the refurbishment or redevelopment prospect of the existing buildings.
The occupier of two of the buildings, Zurich, recently agreed to pre-lease an adjoining new office building (Enterprise House which is due for completion July 2019) of approximately 70,000 sq ft on a 20-year lease at a rent reported to be approximately €30 per sq ft. As such, it is likely they will vacate the existing buildings when their lease expires.
Property Brochure
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