We are instructed to offer for sale an exciting investment opportunity in Dublin 15, with guaranteed income stream until at least October 2029.

The property comprises quite a unique combination of two separate office and warehouse buildings, under one long lease to OPW, including 530 sq.m. of offices and 290 sq.m. of warehouse in a prime industrial area.

The property is highly accessible, close to the N3 & M50, while the accommodation is presented to an extremely high standard and the offices were extensively refurbished by the tenant in 2019.

The current rent payable by OPW is €119,087 p.a. and is due for “upward only” review in October 2021, while the quoted price is €1,650,000, equating to a yield of 6.6%, net of standard purchaser’s costs.

The agents are expecting keen interest from a variety of private investors; in particular PRSA pension investors, given the attractive yield and secure Government tenant as well as the quality of the accommodation and potential for sub-division.

There is also a company ownership structure in place and so this would appeal to a consortium of investors, with limited liability protection and the opportunity to purchase by share transfer.