COMPANIES LOOKING for a headquarters building in Dublin have a choice of three properties this week. Two of them are former Victorian homes – one in Ballsbridge, the other in Dartry – while the third building is a conventional 1970s block at Lower Mount Street.
Knight Frank Ireland is seeking in the region of €5 million for the offices of financier Derek Quinlan* at 8 Raglan Road, Ballsbridge, which is being sold on the instructions of a receiver. It is one of a number of Quinlan property loans which have been transferred to Nama.
The substantial detached house with a modern extension to the rear has an overall floor area of 934sq m (10,054sq ft) and occupies a corner site at the junction of Raglan and Elgin Road. The building is in immaculate condition, combining the period and modern space in a tasteful way. There is off-street car-parking with entrances from both roads.
Mark Smyth of Knight Frank said the house would be an excellent “investment proposition” either as a high-end home, quality offices or an embassy.
It retains all its original features including cornices, fireplaces, doors and chandeliers, and is being sold with vacant possession.
John O’Sullivan of Lisney is handling the sale of a distinctive two-storey over garden level corporate headquarters, Hatherton, at Richmond Avenue South in Dartry, Dublin 6 – it has been for many years the headquarters of National Building Agency. The house, available at €2.95 million, extends to 702sq m (7,556sq ft) and has a single-storey studio to the rear with a further 154sq m (1,765sq ft) of floor space.
Like the former Quinlan property, this house is likely to be bought either as a corporate HQ or as an upmarket home. It has a particularly handsome hall and well proportioned rooms on three levels. Hatherton’s value is greatly enhanced by almost three-quarters of an acre of mature gardens featuring flowing lawns, mature shrubs and a water feature. The studio was constructed of western red cedar wood in 1998 and has large windows overlooking the garden. The house is beside Alexander College and close to the Milltown Luas stop.
The third office HQ going for sale today could not be more different to the two period buildings. Paul Scannell of HWBC is guiding €5.5 million for Block 1 in Clanwilliam Court, Lower Mount Street, Dublin 2, which is being sold by Simon Coyle of Mazars, receiver to a company controlled by Richard Farrington.
The five-storey block, with a floor area of 3,032sq m (32,647sq ft), forms part of the Clanwilliam Court development of the early 1970s and is at the junction of Lower Mount Street and Northumberland Road. It is opposite the new headquarters of Bord Gais. The building has an excellent parking ratio of 74 spaces in a double basement.
Scannell says the block is likely to appeal to companies looking for a substantial HQ at a greatly reduced value. Three years ago planning permission was granted for a new seven-storey block on the site with a floor area of 5,202sq m (56,000sq ft).
“This development opportunity should appeal to developers and investors as well as companies looking for a well located premises,” said Scannell.
*This article was edited on December 4th, 2012
