Office Investment For Sale

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Kelly Patrick
5 years ago
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1 Office Investment For Sale Ground Floor, Paramount Court, Corrig Road, Sandyford Business Park, Dublin 18 Tenant Not Affected

reversionary Potential to increase rent at next rent review in August 2017 Tenant is Auto Trader Limited t/a

2 Investment Summary Modern ground floor office unit extending to approx. 719 sqm (7,740 sqft) with 16 designated car parking spaces Rent of 116,000 per annum considered highly reversionary Potential to increase rent at next rent review in August 2017 Tenant is Auto Trader Limited t/a Carzone 25 year IRI lease from August 2002, subject to five year rent reviews (upwards only) - Tenant Break Option in August 2019 Situated close to M50 and LUAS Green line

Location Paramount Court is a modern office development situated in the centre of Sandyford Business Park overlooking the junction of Corrig Court and Three Rock Road, just north of Blackthorn Drive.

Sandyford Business Park is located approximately 8km south east of Dublin city centre and is considered the premier suburban office location in South Dublin.

3 Location Paramount Court is a modern office development situated in the centre of Sandyford Business Park overlooking the junction of Corrig Court and Three Rock Road, just north of Blackthorn Drive. The building is multi-tenanted with occupiers including amongst others Smith & Williamson Accountants, PrePayPower.ie, and Paramount HR Solutions. Sandyford Business Park is located approximately 8km south east of Dublin city centre and is considered the premier suburban office location in South Dublin. The area benefits from a wide range of amenities including the nearby Beacon Shopping Centre, Hospital, and Hotel. The excellent transport infrastructure in the area underpins occupier demand for office accommodation within the park. The M50 motorway is located 1km south of the property and provides direct access to the country s main roadway network while the LUAS Green line (fast rail) service is just 650m north, providing commuters with a 20 minute travel time to Dublin city centre. There is also numerous bus routes providing transport to and from the city centre and onwards to Blackrock. Major occupiers within the park include Microsoft Ireland, Vodafone, and Salesforce while Grafton Group plc occupy the neighbouring building.

Description The property comprises the ground floor and upper ground floor office accommodation within Paramount Court, a modern four storey over double basement office development completed in circa

4 Description The property comprises the ground floor and upper ground floor office accommodation within Paramount Court, a modern four storey over double basement office development completed in circa Access to the office accommodation is provided via the main shared reception area at ground floor level and from the basement using the two passenger lifts or main staircase within the Accommodation The approximate gross internal areas (GIA) are as follows: Description sqm sqft Upper Ground Floor 589 6,340 Lower Ground Floor 130 1,400 Total 719 7,740 All intending purchasers are specifically advised to verify all floor areas and undertake their own due diligence. The property also benefits from 16 designated car parking spaces. building. The entire property was leased to the tenant on an open plan basis. The main office floor retains a large open plan area with the tenant s fit out also including a number of cellular offices and meeting rooms, a canteen, and a separate break out area. Offices at Upper Ground Floor SHARED RECEPTION The connecting lower ground floor is double height office space which shares a glass wall with the main floor and is accessed via an internal staircase. Offices at Lower Ground Floor ESB SUB STATION

7 Tenancy Building Energy Rating The property is leased to Auto Trader Limited (by assignment) on a 25 year IRI lease from 22 August 2002, subject to five yearly rent reviews (upwards only). The current rent of 116,000 per annum equates to 15 psf including cars and is considered highly reversionary. Auto Trader Limited is a UK registered company ( ) incorporated in January 2000 which currently employs approximately 800 people. The company s ultimate parent is Auto Trader Group PLC. Tenure We understand the property is held on a Long Leasehold interest. BER No: EPI KWh/m 2 /yr Viewings Viewings by appointment with the sole selling agent For further information please contact: Christopher Belton cbelton@lisney.com Maria Duffy mduffy@lisney.com Asset Management In the short term, the 2017 rent review should offer a purchaser a significant uplift in rental income payable on the property. Price Offers are being sought in the region of 1,850,000. VAT St. Stephen s Green House, Earlsfort Terrace, Dublin 2, D02 PH42. Tel: We are advised that transfer of business relief will apply to the sale.

8 Paramount Court Corrig Road, Sandyford Business Park, Dublin 18 St. Stephen s Green House, Earlsfort Terrace, Dublin 2, D02 PH42. Tel: PSRA No These particulars are for guidance only and do not form part of any contract. All statements contained in these particulars as to the property are made without responsibility on the part of the agents or the vendor and none of the statements contained in these particulars as to the property are to be relied on as statements or representations of fact. Any intending purchasers shall satisfy themselves by inspection or otherwise as to the correctness of each of them. No omission, accidental error or misdescription shall be ground for a claim for compensation, nor for the rescission of the contract by either the vendor or the purchaser. They are issued on the understanding that all negotiations will be conducted through this firm. lisney.com Lisney for themselves and the Vendor/Lessor whose Agents they are give notice that: 1. These particulars do not constitute any part of an offer or contract. 2. All statements contained in these particulars as to this property are made without responsibility on the part of the Agents or the Vendor/Lessor and none of the statements contained in these particulars as to this property are to be relied on as statements or representations of fact. 3. The particulars, various plans, photographs, dimensions, references to condition and permissions for use and occupation are given in good faith and are believed to be correct but their accuracy is not guaranteed and any intending Purchasers or Tenants shall satisfy themselves by inspection or otherwise as to correctness of each of them. No omission, accidental error or misdescription shall be ground for a claim for compensation nor for the rescission of the contract by either the Vendor/Lessor or the Purchaser/Tenant. 4. Neither the Vendor/Lessor nor Lisney nor any person in their employment has any authority to make or give any representation or warranty whatever in relation to the property. 5. Prices are quoted exclusive of VAT (unless otherwise stated) and all negotiations are conducted on the basis that the Purchaser/Tenant shall be liable for any VAT arising on the transaction. PSRA Licence:

Investment For Sale. Unit A1, Nutgrove Office Park, Nutgrove Avenue, Rathfarnham, Dublin 14. Tenants Not Affected

Investment For Sale. Unit A1, Nutgrove Office Park, Nutgrove Avenue, Rathfarnham, Dublin 14. Tenants Not Affected Investment For Sale Unit A1, Nutgrove Office Park, Nutgrove Avenue, Rathfarnham, Dublin 14 Tenants Not Affected Investment Summary Modern three storey self-contained office building extending to approximately