Investments
Ref 207138

St James House

72 Adelaide Road
Dublin, D02 Y017

For sale€4,000,000
Size17,890 ft² / 1,662 m² (approx. 170 desks)

Summary

City Centre office investment with redevelopment potential

  • 50% interest (by long lease) for sale of prominent 5-storey office building extending to approximately 17,890 sq ft (1,662 sq m) with 14 car parking spaces.
  • Highly accessible city centre location within Dublin’s Central Business District.
  • Property benefits from a short-term income of €840,721 per annum.
  • All leases expire on or before September 2025.
  • Potential to redevelop a 10 storey Grade A office building extending to 61,031 sq Ft (5,670 sq m) based on feasibility study (Subject to Planning).
  • Guide price: Excess €4m (subject to contract and exclusive of VAT) reflecting a net initial yield of 9.55%, assuming standard purchaser costs of 9.96%.

Description

Constructed in 1990, St James House is a 5-storey over basement office building.

This well-recognised property holds a prominent corner position on Adelaide Road, offering versatile office spaces for various business needs.

The property’s reception is naturally well-lit, benefiting from the extended floor to ceiling glazing height on the front facade. There are two stairwell
cores and two lifts that service all floors.

The property was refurbished circa 2012. It is accessed via raised ground floor steps off Adelaide Road and comprises a standalone self-contained building that extends to approximately 17,890 sq. ft (1,662 sq. m) with the benefit of 14 no. car parking spaces.

The floorplates range in size from approximately 1,600 sq. ft - 4,000 sq. ft, each floor providing a mix of open plan office space and meeting rooms
of various sizes.

Building Energy Rating

Building Energy Rating D1

Location and Transport

Located on Adelaide Road the property is within a highly desirable occupier location.

The micro location is witnessing significant office redevelopment and is already home to various high profile occupiers including Bank of America, Deloitte, EY, Arthur Cox, Eversheds Sutherland, IDA Ireland and many more.

Notable developments in the area include the recent construction of 4 and 5 Park Place, which is adjacent to the subject property. Additionally, KPMG are due to open their new 300,000 sq. ft. headquarters on Harcourt Street in 2026. 1 Adelaide Road is also due to be redeveloped, adding approximately 160,000 sq. ft. of brand-new Grade A office space, which will further enhance the overall area.

The property benefits from close proximity to an abundance of amenities to include various restaurants, bars/pubs, cafes and retail shops.

The location is well-served by an extensive public transportation network, with the Harcourt and Charlemont LUAS stops just a few minutes away on foot. Several bus routes serve the area including the 44, 44D, 142, 9, 68, 122 and 125 , and a Dublin Bike Station can also be found nearby. Additionally, the road networks is excellent with easy access to the N11