It was announced today that the two newly refurbished Haddington Buildings on Haddington Road, Dublin 4, will be brought to market with a guide price of €24.5m.
The Haddington Buildings complex is located on Haddington Road and Percy Place, a prime CBD office location within close proximity to both Baggot Street Lower and Grand Canal Dock. The area is a vibrant commercial hub and home to some of Ireland’s leading companies having attracting high profile occupiers such as CPL Recruitment, Bord Bia, Linesight, Intertrust and Bord Gáis Ireland with other notable companies expanding their presence in the area.
Joint agents Savills and HWBC expect significant demand from a wide variety of investor types either seeking to expand an already established property platform in Ireland or enter the market for the first time.
The agents will be offering Two Haddington Buildings for sale at a guide price in excess of €23.5 million, reflecting a net initial yield of 5.5%, allowing for new increased acquisition costs of 8.46% and a capital value in the region of €828 per sq. ft.
Speaking today, Roisin Rafferty of Savills said, "This is an excellent opportunity to acquire a blue-chip investment in a market with a diminishing supply of good quality office space. The building is single let and we anticipate a strong level of interest from both international and local investors given the exceptional quality of this Grade A office building."
Source: www.businessworld.ie