One Spencer Dock in Dublin is to come to the market with a price tag of €240m (£171m) making it Ireland’s most valuable office building.
Formerly developed by Treasury Holdings the site has come to market from the current holder Nama.
The sale price reflects an initial yield on the 226,624 sq ft office block built in 2007.
Consisting of three interconnecting blocks the office space is fully let to accounting firm PwC.
PwC has the space over three co-terminus 25 year leases expiring April 2032 providing a total rent of €11.8m per annum.
PwC is subject to five year upward only rent reviews with the next due in April 2017.
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One Spencer Dock in Dublin is to come to the market with a price tag of €240m (£171m) making it Ireland’s most valuable office building.
Formerly developed by Treasury Holdings the site has come to market from the current holder Nama.
The sale price reflects an initial yield on the 226,624 sq ft office block built in 2007.
Consisting of three interconnecting blocks the office space is fully let to accounting firm PwC.
PwC has the space over three co-terminus 25 year leases expiring April 2032 providing a total rent of €11.8m per annum.
PwC is subject to five year upward only rent reviews with the next due in April 2017.
