Percy Exchange
Percy Place
Dublin, D04 P5K3
€4,300,000
- Space Available37,382 ft² / 3,473 m² (approx. 347 desks)
Max Reilly
Senior Director - Capital Markets
Agent details
Brian Shields
Senior Director - Investment
Agent details
- Summary
- Energy rating
- Location
- Brochures
- Agents
Summary
High quality, CBD office investment opportunity, for sale by Private Treaty
(Tenants not affected)
- A unique opportunity to acquire a 24.09% interest (by long lease) in a core CBD office investment.
- 5 storey over basement office building extending to 3,473 sq m (37,382 sq ft).
- 100% occupied with income secured to excellent tenants including Ogier Leman, Clark Hill, Bridge Consulting and Axway.
- Net operating income €1,944,271 p.a of which €468,375 pa is attributable to the 24.09% interest.
- Unexpired lease term of 9.6 years to expiry (3.4 years to break).
- Excellent connectivity being in close proximity to the DART, Luas and Dublin Bus.
- Provides 50 car spaces offering exceptional car parking ratio of 1 per 69.5 sq m.
- Guide price: €4.3 m reflecting a net initial yield of 9.91% assuming standard purchaser costs of 9.96%) and a low capital value of €477.50 per sq ft.
Description
Percy Exchange comprises an impressive five storey over basement office building, extending to 3,473 sq m
(37,382 sq ft).
The building is of traditional construction, with partial red brick, glazed and metal panel façade. The Grade
A office accommodation provides bright and efficient floor plates with stunning views onto the Grand Canal.
Internally, the ground floor provides a reception with seating area and office accommodation split over
two wings, left and right off the reception.
The office accommodation generally provides a mix of open plan and cellular offices. Within each floor, there is a lift lobby providing 2 no. 10-person-passenger lifts and a separate toilet core.
A communal car park is located at basement level and is shared between the occupants of Percy Exchange and the residents of two adjacent apartment developments. Vehicular access is provided via a one-way system with entry via the north-east side of the property, and the exit from the car park south-east side of the property. The subject property benefits from 50 car parking spaces. Bicycle storage is located within the underground car park.
General Specification includes:
Raised access floors
Plastered and painted walls
Suspended ceilings
A mix of LED lighting, spot lighting and recessed fluorescent lighting
Air conditioning
2 x 10 passenger lifts
Building Energy Rating: C3
Energy rating
Location
The area is regarded as one of the city’s finest office locations and has benefited from a number of redevelopment and refurbishment projects in recent years. This has served to further bolster the areas impressive list of blue-chip occupiers who include Amazon, Linkedin, Google, Bank of Ireland, Sky, Willis Mitsui and Macquarie amongst others.
The central location offers a host of amenities including restaurants, cafés, shops, hotels and gyms, catering to the needs of both commercial and residential occupants.
The property is within a short walking distance of The Aviva Stadium, St. Stephen’s Green, and Grafton Street.
Agents
Max Reilly
Senior Director - Capital Markets
Agent details
Brian Shields
Senior Director - Investment
Agent details