The Reflector, one of Dublin’s most iconic new office buildings, has been placed on the market with a guide price of €155m.
The sale is being handled by Savills Ireland and CBRE on behalf of Park Developments, who anticipate a strong level of interest from European and international Investors.
The Reflector is a landmark office development – which completed in 2018 – and is prominently situated in Dublin’s Grand Canal Dock area, with impressive water frontage spanning almost 75 meters on Hanover Quay.
The building has attracted tenants such as Airbnb, Wix and LogMeIn, it will produce an annual rent of approximately €7,000,000 and WAULT of 12 years.
The six-storey over basement building comprises 11,250 sq m (121,089 sq ft) NIA of office space and 329 sq m (3,546 sq ft) of retail space, with 34 car parking spaces. The building is split into two wings (East & West) with individual receptions and centralised cores offering.
Commenting on the opportunity, Head of Investment Properties at Savills, Johnny Horgan said, "The office sector remains the primary sectoral focus for most European and International Investors. This year, we anticipate that investors shall be focused on core and core plus investment opportunities. With the weight of capital seeking opportunities in the office sector, with strong occupier market, coupled with the quality of this asset, The Reflector shall be one of the stand out asset sales of 2019."