Investments
Ref 207090

Connaught House

One Burlington Road
Dublin, D04 C5Y6

For sale€80.000.000
Size116.191 ft² / 10.794 m² (approx. 1.080 desks)

Summary

Unique opportunity to acquire a proven well-performing landmark asset, and fully reposition to a ‘best-in-class’ Office Investment

  • Fully leased prime office block backed by strong covenants, boasting short-term asset management potential.
  • Strategically located in one of Dublin’s leading office locations.
  • High quality landmark building extending to 116,191 sq ft (10,795 sq m) 1 of Grade A office accommodation.
  • Combined rent roll of €7.14M per annum, secured by an excellent tenant line-up including Macquarie Aviation Capital, Alkermes and Biohaven.
  • Optimal floor plate configuration with typical 5,200 sq ft – 10,500 sq ft floor plates, in line with peak active demand.
  • Excellent connectivity with the Luas, DART and Dublin Bus all situated within close proximity.
  • Proven and robust rental tone with average passing rent of approximately €58 per sq ft (€624.30 sq m) (excluding cars).
  • Offers numerous asset management opportunities including the execution of a sustainability pathway to achieve a BER B1 rating with minimal disruption to tenants and additional route to BER of A3, with likely facade works required.
  • Two-level basement car park with 86 car parking spaces, providing an excellent car parking ratio of 1:1351 sq ft (1:125 sq m).
  • Freehold equivalent title.
  • Guide price: Excess €80m (subject to contract and exclusive of VAT) reflecting a net initial yield of 8.11%, assuming standard purchaser costs of 9.96%.

Description

Exceptional Landmark Asset,Strategically Located in One of Dublin’s Leading Office Locations

Connaught House is an impressive six storey over basement building

The building is fully leased By 10 strong covenants, Including macquaire Aviation, alkermes and Carlyle aviation.

Connaught House is constructed to the highest standards and this prestigious building continues to attract strong covenants to one of Dublin’s most sought-after office locations. The ESG credentials are one of the most important elements to consider in terms of repositioning the property to satisfy both occupier and investor requirements into the future.

Building Energy Rating

Building Energy Rating: C3 with a pathway to B1 identified which can be achieved with tenants in situ and minimal disruption. An alternative pathway to A3 to include facade works is also identified.

Features

  • Total parking spaces: 86
  • Parking Type: Basement
  • Car Parking: Yes

Building Energy Rating

Building Energy Rating C3

Location and Transport

Exceptionally well connected, Connaught House is positioned within walking distance to the LUAS, Dart and Dublin Bus, all within close proximity

Directly outside the entrance, there are various Dublin Bus routes available, ensuring convenient access across the city.

Additionally, the nearest Luas (light rail) stop is located at Charlemont, which is only a short 11-minute walk. Furthermore, the DART is situated nearby, just a 15-minute walk away at Grand Canal and Lansdowne Road Stations.