Investments
Ref 207258

West Pier Business Campus

Dun Laoghaire
Co Dublin, A96 F8C0

Available on request
Size108,576 ft² / 10,087 m² (approx. 1,010 desks)

Summary

High yielding south Dublin office investment with exceptional residential development potential (S.P.P.)

  • 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

Description

West Pier BusinessCampus provides a unique opportunity to acquire a high yielding office investment with both excellent asset management and short to medium term residential development potential.

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.

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 4,284 sq. ft. (398 sq. m.) to 8,460 sq. ft. (786 sq. m.) on the upper floors with 1,867 sq. ft. (173 sq. m.) at ground floor level. Floor plans and a measurement survey will be available on 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.

Building Energy Rating

Building Energy Rating D1-E1

Location and Transport

West Pier Business Campus is centrally located in Dun Laoghaire, Co Dublin, approximately 10.5 km south of Dublin City Centre. The property is directly adjacent to Dun Laoghaire Harbour, benefiting from extensive water frontage and exceptional sea views.

The location has excellent transport connections within walking distance to the property with Dun Laoghaire DART station conveniently located 600 meters south of the property and Salthill Dart station is 500 meters north.

There are several bus stops within 150 meters of the property serviced by the 7, 46A and 111 high frequency bus routes while proposed BusConnects upgrades will further enhance connectivity. Furthermore, the N31 is located within close proximity, providing links to the N11, one of Dublin’s primary arterial roadways. Accessibility for cyclists has also improved through the implementation of a two-way cycle lane between Blackrock and Sandycove.

There are a wide range of amenities located in the immediate area including numerous cafes, bars and restaurants, in addition to convenience and comparison retail concentrated around Georges Street and Marine Road. The property also benefits from nearby recreational facilities including seafront parks, walkways and a number of Yacht clubs.

The National Rehabilitation Hospital, Ireland’s primary rehabilitation centre for centre physical and cognitive disabilities, is situated approximately 2km south of the property while St Michaels general hospital is 500 meters to the south.

The immediate surrounding area is characterized by a mix of residential and commercial uses with major occupiers including Bord Iascaigh Mhara (The Irish Fisheries Board), the Headquarters of Dun Laoghaire Rathdown County Council, the Commissioner of Irish Lights Headquarters and Tesco Ireland.