EMEA - IRL - West Pier Business Campus - 2023_Property for Sale

Old Dunleary Road, Dublin, Co. DUBLIN, A96 F8C0, IE

EMEA - IRL - West Pier Business Campus - 2023

Asset Description

West Pier Business Campus comprises three interconnected five storey office buildings extending to a gross internal area of approximately 108,576 sq. ft. (10,087 sq. m.) with 204 car

spaces. The building was constructed in 2000 and is of reinforced concrete frame construction. Internally, the office accommodation is finished to a modern specification and includes

raised access floors with carpet tile covering, suspended ceiling with recessed category 2 light fittings, plastered and painted walls, two No. 10 person OTIS (800 kg) passenger lifts and air conditioning per block.

The raised access floor to finished ceiling height on the upper floors is 2.70m. The floor to ceiling height at ground floor level is approximately 3.30m. Floor plates range between 173

sq. m. - 786 sq. m. Floor plans and a measurement survey will be available in the data room.

The buildings sit on an irregular shaped site which extends to approximately 2.08 acres (0.84 ha) and benefits from 130 meters water frontage to Dun Laoghaire Harbour. Access to the property is via the Old Dunleary Road with pedestrian access to the rear via Cumberland Street.

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Attributes

Building area gross

10,000 m²

Occupancy

85%

Year built

2000

Media

Investment Highlights

South Dublin offices extending to a GIA of 108,576 sq. ft. (10,087 sq. m.)
High yielding asset reflecting a NIY of 10.89%
85% leased to 8 tenants providing a WAULT to expiry of 1.70 years
Rental income of €2,274,806 per annum
Opportunity to increase rent and term through active asset management
Residential development potential with favourable zoning on site of approximately 0.84 hectares (2.08 acres)
Feasibility study carried out by MCORM Architects indicating potential for 256 apartments
BER E1 to D1