The sale of Block H at Dublin's Eastpoint Business Park presents a rare opportunity for investors and developers to acquire a prime office block with full vacant possession and the scope for a full or partial redevelopment.
The property, which comprises 2,068sq m (22,260sq ft) of office space across three floors at present, is being offered to the market by agent HWBC at a guide price of €6.25 million. The building sits on a plot of 0.69 acres and comes with 60 surface car parking spaces.
Of particular interest to prospective purchasers will be the potential to expand the existing footprint of Block H. A preliminary study by Scott Tallon Walker Architects, which designed East Point, suggests the building could be almost doubled in size through extending the first and second floors, while also adding an entirely new third floor.
For the more ambitious investor, the site which Block H sits on could potentially facilitate a full redevelopment, with the delivery of a new structure seven storeys in height with a potential office layout comprising some 8,360sq m (90,000sq ft).
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East Point is one of Ireland's foremost business parks, accessed off the Alfie Byrne Road and Bond Road next to the Dublin Port Tunnel and north docklands and in close proximity to the city centre, M50 and M1. There is currently over 120,000sq m (1,300,000 sq ft) of prime office space leased in East Point, with numerous major technology companies including Oracle, Google, Cisco, Citrix and Activation Blizzard as residents.
Pat Campion, divisional director at HWBC, says: “Block H represents an excellent opportunity to acquire a prime asset with the option to move in straight away as an owner occupier or to create long-term returns through subleasing or development. A site of this size and in this condition is rare to find in a location such as East Point and we are expecting significant interest from those with both short-term needs and longer-term goals.”
