Investments
Ref 207148

Kilmore House

North Dock
Dublin, D01 XN99

For sale€22.000.000
Size107.566 ft² / 9.993 m² (approx. 1.000 desks)

Summary

Value Add Office Investment Opportunity - 9 storey over basement Grade A office building offering excellent
profile and accessibility

  • Opportunity to acquire a 60% interest in a long leasehold CBD office investment.
  • Situated in the heart of the Docklands, one of Dublin’s premier office locations.
  • 9-storey over basement Grade A office building offering excellent profile and accessibility.
  • 9,993.1 sq m (107,566 sq ft), with 43 basement car parking spaces.
  • WAULT to expiry 7.02 years / 6.05 years to break.
  • Held on a 998 year (less 3 days) long leasehold interest from 2007 subject to an annual ground rent of 17.5% of rents received.
  • Over 86% of current income secured against blue chip tenants including PWC, Universal Investment and Optum.
  • The asset is approximately one third occupied generating a gross passing rent of €1,869,641 and a net operating income of €119,072 pa.t...
  • It offers numerous immediate asset management opportunities to drive income and capital returns.
  • BER D1 with clear pathway to achieve an A3 rating.
  • Guide price: Seeking in excess of €22 m (subject to contract and exclusive of VAT) reflecting a low capital value of €341 per sq ft.

Description

Designed by award winning architects, Scott Tallon Walker, Kilmore House comprises a 9 storey, (including lower ground floor level), over basement Grade A office building extending to approximately 9,993.1 sq m (107,566 sq ft).

The basement provides 43 car parking spaces.

Accessed via an impressive double height reception area, the building is laid out in a “L” shape around a centralised core, providing light filled efficient floorplates designed for flexibility of separation for multiple users.

The building is of reinforced concrete frame construction with grey powder coated aluminium façades incorporating a double-glazed wall structure throughout. The top two floors are recessed to provide 460 sq m (4,951 sq ft) GIA of external surround balconies.

There is a ground floor retail unit to the north-east elevation fronting onto Mayor Street Upper. The lower ground-floor is fitted out to provide a mixture of office space, a fully fitted commercial kitchen, canteen area, WC’s, shower and changing facilities and ancillary storage space.

Building Energy Rating

Building Energy Rating D1

Location and Transport

Kilmore House is situated in the heart of Dublin’s North Docklands and commands a prominent position on the junction of Park
Lane and Mayor Street Upper.

The North Docklands has undergone significant regeneration in recent years and is regard as one of Dublin’s premier office locations. It is home to a host of IT, State, Professional and Finance office occupiers, including Salesforce, Workday,
National Treasury Management Agency, The Central Bank of Ireland, Citibank, AIG, A&L Goodbody, An Post and Yahoo amongst others.