Senior Director - Capital Markets

Max Reilly

Senior Director - Investment

Brian Shields

Superb opportunity to acquire a high quality city centre office building providing a long term income stream.<ul><li>Unique building design, combining a Georgian office section at the front with a spacious modern extension to the rear</li><li>15,772 sq ft (1,465 sq m) NIA of office accommodation with the benefit of 5 car parking spaces.</li><li>FRI lease to the Irish Medical Council.</li><li>8.71 years until expiry on upwards only rent review.</li><li>Passing rent of €827,500 per annum.</li><li>Excellent location in the heart of Dublin city centre.</li><li>Following recent upgrade works completed by the tenant, the BER now stands at B2 with the immediate opportunity to improve to a B1 rating.</li><li>Guide price: Excess €10.75m (subject to contract and exclusive of VAT) reflecting a net initial yield of 7%, assuming standard purchaser costs of 9.96%.</li></ul><h2>Description</h2>High quality office situated in the heart of Dublin City nestled off Fitzwilliam Place, the location represents one of Dublin’s most accessible and distinguished locations. Kingram House is a unique office building that combines both Georgian and modern architectural elements. The front Georgian section was constructed circa 1840 and consists of a two storey refurbished building that retains its original light brick façade. The rear extension was completed in 2007 and includes a modern three storey office over lower ground with a central atrium proving an abundance of natural light to the surrounding floors. Both buildings have been amalgamated to provide approximately 15,772 sq ft (1,465 sq m). The tenant has recently undertaken a scheme of refurbishment and upgrade works within the property which has improved the current BER to B2. In addition to the M&amp;E upgrades, the tenant also undertook decorative upgrades throughout contributing to create a modern and appealing office environment within Kingram House. There are 5 car parking spaces located to the rear of the property which are accessed by way of Leeson Close off Leeson Street Lower. Building Energy Rating: B2

Summary

Kingram House enjoys a central location in Dublin’s bustling CBD, nestled between the lively streets of Fitzwilliam Place and Lesson Street. This prime location offers a plethora of amenities, including restaurants, cafes, shops, hotels, and various entertainment options. It is conveniently situated within close proximity to popular attractions such as St. Stephen’s Green, Grafton Street, Iveagh Gardens, Merrion Square, and Government Buildings. One of the key advantages of Kingram House’s location is its excellent connectivity to major transportation nodes. The property is well served by a combination of bus, light rail (LUAS), and rail routes. The Charlemont LUAS stop is just a short 10 minute walk away, providing convenient access to various destinations north and south of the city. Pearse Street Station, located approximately 1.5km north of the property, offers connectivity to the wider Dublin area. Additionally, there is a Dublin Bikes station nearby at Fitzwilliam Square, further adding to the transportation options in the vicinity. Numerous Dublin Bus routes including the 11, 37, 46a and 145 all serve the area, ensuring convenient public transportation connectivity.

Kingram House

Dublin

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Default - Default - Surface

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Kingram House

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