Agent QRE has just completed a deal to let a refurbished period office in Dublin 2 at a particularly strong rent to international digital marketing firm Depta Agency.
No 24 Earlsfort Terrace, once home to the exclusive casino Silks Private Members Club, has just been let at 565 per sq m (€52.50 per sq ft) under a 10-year lease with a break option in year seven.
Silks opened in the early 2000s but closed in 2014. Receivers Duff and Phelps were appointed to handle the sale of the 416sq m (4,478sq ft) premises and Lisney put it on the market in 2015 at €1 million.
Now, after a high-end revamp, it offers 390sq m (4,200sq ft) of office space and a garden terrace on the third floor. The rear ground floor was extended to offer a large open-plan space – unusual for a period office.
The building, on a Belgravia-style terrace, does not include car-parking but is close to the Luas, Dublin Bus routes and within walking distance of the Dart.
QRE’s Aishling O’Hanlon says the letting highlights the demand for high-end offices that can cater to “smaller office requirements, many of which are not available in the new, larger office developments” under construction around the city. “This is having a positive effect on these smaller period properties,” she says.
