One Custom House Plaza, IFSC, Dublin 1POA For Sale 3,864.00 sqm approx
· High-profile core plus office investment in the heart of Dublin’s International Financial Services Centre (IFSC)
· 5 storeys over basement office building extending to approx. 41,589 sq. ft (3,864 sq. m) NIA
· Multi tenanted and currently 60% occupied, generating a net operating income of €558,000 p.a
· Strong tenant line up including Zellis, a leading provider of payroll and HR solutions and Kaseya, an American IT and security management multi-national
· WAULT to earlier of tenant break/expiry of c. 4.46 years and to expiry of c. 6 years
· Excluding car parking, the current passing rent reflects an average rate of €34.60 per sq. ft (€371.35 per sq. m), well below neighbouring rental levels
· Significant potential to drive income return via letting of the vacant space and through active asset management.
· Landlord only break option December 2024 providing opportunity to obtain vacant possession of ~84% of the property
· Guiding €17 million reflecting a NIY of ~3%, a potential reversionary yield in excess of 9% and a low capital value of ~€409 per sq. ft.
· Further information available on the marketing website: https://1customhouseplaza.com