DUBLIN accountants L'Estrange and Co have paid marginally over £1 million for an office building which was completed about three years ago at Rock Road, Blackrock, Co Dublin, but was never occupied. Jones Lang Wootton handled the sale for developer John Ronan.
The 9,978-square-foot building, College House, is directly opposite Blackrock College and has clear views over Dublin Bay from the upper floors. The accomodation consists of a lower ground, ground and first floor levels together with a penthouse of 1,981 square feet. There are 15 underground car-parking spaces.
The building has been completed to a high specification with raised floors to accommodate cabling and suspended ceilings. Another section of the same development includes apartments.
College House was completed after the office market had taken a downturn because of a huge oversupply. The building occupies a high-profile position on one of the busiest commuter routes to the south city suburbs. It is near Booterstown DART station.
Other businesses located locally include First National Building Society and American International Insurance Company.
L'Estrange and Co has already sublet two floors of College House to a Belgium company, Lernout and Haustie, which runs a telemarketing operation for computer speech products. The company is believed to be paying over £14 per square foot for the ground floor and somewhat less for the lower level under a 15-year lease.
L'Estrange recently secured in 55 of £300,000 for its 3,000-square-foot office building at 106 Pembroke Road.
