Legal quarter office investment for €2.3m

Property agent Allsop is seeking €2.3 million for the Friary Building office complex on Bowe Street in Dublin 7. The three-storey over basement terraced period building is currently producing a rental income of €200,400 from 12 self-contained office suites. These could be combined if larger accommodation is required. In the meantime the building is fully let to four tenants, The Law Society, Enovation Solutions, Detail Design and Friary Law Solicitors. There are 10 car spaces to the front of the office block adjacent to Smithfield Square.

Ian Lyons of Allsop says the expiry dates for the various leases were staggered, giving the new owner an opportunity to manage the asset to their advantage. He said the property was likely to appeal mainly to the legal and technology sectors.