Commercial Property

Clondalkin office complex with redevelopment potential for €4.8m

Dolcain House consists of three office blocks and 211 car spaces

Dolcain House: The three office blocks range from 1,571sq m to 2,625sq m.

Justin Comiskey
Wed Sep 12 2018 - 01:15

Cushman & Wakefield is quoting €4.8 million for a modern office complex extending to 5,946sq m (64,000sq ft) in Clondalkin.

Dolcain House, situated on Monastery Road close to the N7/M50 interchange, is being sold on behalf of Tom O'Brien of Mazars and includes the headquarters of SIAC Construction. Dublin Airport is a 20-minute drive away while the Luas at Red Cow is within walking distance.

The complex consists of three office blocks with floor plates from 1,571sq m (16,910sq ft) to 2,625sq m (28,256sq ft). Vacant office space extends to about 4,394sq m (47,300sq ft) and there are also 211 car-parking spaces.

Block B is occupied by SIAC on a five-year lease from February 17th, 2014 at an annual rent of €100,750. There is additional income of about €77,400 per annum from telecoms masts/aerials on the roof which are on flexible short-term agreements.

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The agent suggests the complex gives an investor flexibility to asset manage and let the vacant space, or for an owner-occupier to locate in the vacant space.

The 1.92-acre site is zoned "Objective A" under the South Dublin County Council Development Plan 2016-2022 to "protect or improve residential amenity". Permitted uses also include a retirement home or nursing home. As a result, a potential purchaser may consider it as a redevelopment opportunity.

Dolcain House last came on the market in September 2016 at €5 million.

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