High Quality Suburban Office Asset Management Opportunity
Dublin, 9th November 2016 – CBRE announced today they are launching the sale of Pottery Road Business Centre, a modern office scheme extending to approx 4,234 sq m (45,576 sq ft) by private treaty. CBRE are offering the entire scheme which includes 19 fitted office suites extending to approx 1,949 sq m (20,980 sq ft) with an additional 2,285 sq m (24,596 sq ft) of office accommodation finished to developer standard. Pottery Road is located just off the N11 which in turn provides access to all of the main arterial routes leading to and from the Dublin City Centre. CBRE are understood to be quoting a price of €2,000,000 (€43.88 per sq ft) for the entire.
Pottery Road Business Centre comprises a modern four storey office block of self-contained suites which have the benefit of approx 100 designated underground and surface car parking spaces. The suites vary in size from approx 150 sq m to 1,000 sq m. The 19 finished suites are a mix cellular and open plan accommodation incorporating suspended ceilings with acoustic ceiling tiles, raised access flooring, male and female toilets and canteen. The scheme is generating a rental income of €56,298 per annum from 3 medium to short term tenants with excellent potential to immediately increase the rental income.
This asset is ideal for an investor who is interested in an asset management opportunity and looking to take advantage recovering suburban office market.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
In Ireland, with offices in Dublin and Belfast, CBRE is the country’s largest commercial real estate services company, now employing over 165 employees and offering a full range of property services including property sales and acquisitions, leasing and management, investment, corporate services, debt advisory, project management, consultancy, business rates and compulsory purchase, valuations and research. Please visit our website at www.cbre.ie or www.cbre.ie/ni.