Sandyford office block with potential for €4m

Block has 50 car parking spaces and all but one floor is currently let

Heron House, the partially-let office block at Corrig Road
Heron House, the partially-let office block at Corrig Road

Agents JLL are seeking in the region of €4 million for a partially-let office block, Heron House, at Corrig Road in Sandyford, Dublin 18.

At that price the building will have a value of €2,206 per sq m (€208 per sq ft) as well as 50 car parking spaces.

The 1,785sq m (19,215sq ft) investment is beside the modern and extensive Beacon complex on the corner of Corrig Road and Blackthorn Road in the fast-changing south Dublin suburb.

All but one floor is currently let to the Grafton Group and Computershare at an overall rent of €231,756 – working out around €145 per sq m (€13.53 per sq ft) and €900 for car parking spaces.

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In both of these cases the leases run until the end of 2018.

The vacant first floor has been refurbished and is available to rent at €215 per sq m (€20 per sq ft).

Jack Fagan

Jack Fagan

Jack Fagan is the former commercial-property editor of The Irish Times