Agents Knight Frank are to seek buyers for two Dublin office investments – a Georgian house at 36 Merrion Square and a modern office complex at 4 Whitefriars on Aungier Street.
Damian McCaffrey of the agency is guiding €5.25 million for the four-storey over basement building on Merrion Square which is larger than usual with a floor area of 822sq m (8,850sq ft). It is let in its entirety to Bank of Ireland and Brightwater Recruitment with an average unexpired term of 10.6 years. The rent roll is €348,000.
The bank leases the ground floor and basement while Brightwater occupy the upper floors. There are no break clauses in the leases which provide for upwards only reviews.
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McCaffrey is suggesting €700,000 for the Whitefriars investment, a self contained office property beside DIT’s Kevin Street and Aungier Street colleges. The three-storey mid-terrace building extends to 149sq m (1,600sq ft) and is let to Irish Welcome Tours at a rent of €76,000 per annum. The upwards only lease with no break options has another 11 years to run. The office comes with three car-parking spaces.