Irish Press building expected to make £2m

THE Irish Press building at Burgh Quay, Dublin 2, is shortly to be offered for sale by the liquidator, Tom Grace

THE Irish Press building at Burgh Quay, Dublin 2, is shortly to be offered for sale by the liquidator, Tom Grace. The 40,000-square-foot block is in need of considerable refurbishment and dates from the 1970s. It is expected to make about £2 million. In the meantime, Lisney is to offer two other Irish Press properties for sale by tender on February 22nd. The first of these is a group of adjoining two-storey and three-storey buildings at the corner of Exchange Place and Poolbeg Street. They adjoin Mulligans bar and have been used as storerooms and offices. The buildings have a floor area of 5,500 square feet and are located in a designated area. No guideline price is being provided but the property should make in the region of £150,000 to £200,000.

Lisney is also seeking a buyer for a garage and warehouse at the rear of the Point Depot in Upper Sheriff Street, Dublin I. The property is held under a lease from CIE for 21 years. The rent is currently £24,000 per annum but the lease has the benefit of rental income of £25,300 from the adjoining warehouse, which is let to Gypsum Industries.