One of Dublin's top 20 law firms, McDowell Purcell Solicitors, is to embark on a sale and leaseback of its offices at the Capel Building at St Mary's Abbey in Dublin 7.
Ross Fogarty of agent Knight Frank is seeking in excess of €3.1 million for the fourth-floor offices, which extend to 526sq m (5,662sq ft) and will provide a net return of about 7 per cent after standard acquisition costs of 8.46 per cent are deducted. The agreed annual rent of €235,000 will equate to €392 per sq m (€37/sq ft) once a rental value of €2,500 is attributed to each of the 10 secure basement car spaces.
Fully let
The office unit is being delivered fully let on a new eight-year lease to McDowell Purcell, a progressive corporate law firm with specialists across all legal disciplines. The firm was founded 120 years ago and employs more than 140 people, including 50 lawyers.
![](https://www.irishtimes.com/resizer/v2/WJJT75HGJY5UUEO3HTVC2IOPIA.jpg?auth=7084cd3e5523d35fcdcea72216eeeeefbb69374f92168746ad48e2949b10c3d9&width=800&height=450)
The Capel Building, which dates from 2003/04, has five storeys of offices over ground-floor retail unit with basement-level car parking. There is an attractive ground-floor reception area and atrium.
The building is located in the heart of Dublin's legal quarter close to the Four Courts and the Bar Council Library. It is within a three-minute walk of Henry Street.