Office block and retail in Docklands

A 10-year old office block which is fully occupied close to the Point Village in Dublin’s north docks is to be sold as an investment at a yield of 7.5 per cent.

Separately, an adjoining 324sq m (3,459sq ft) retail unit let to Spar at €80,000 per annum is for sale at €1.1 million, representing a yield of 7 per cent.

Agent JLL is guiding €3.2 million for Castleforbes House which forms part of Castleforbes Square developed by Liam Carroll’s Danninger company before it collapsed in the property crash.

The scheme also includes 420 apartments. The six-storey office building extending to 1,283sq m (13,814sq ft) is producing a rental income of €252,360 from six tenants. The air conditioned building has raised access floors, suspended ceilings, modern lighting and data cabling. There are 21 basement car parking spaces.

Castleforbes House benefits from its close proximity to the Point Village which includes the 3Arena, The Gibson Hotel, the Odeon cinema and a multi-storey car park. Declan Sexton and Jacqueline Fitzpatrick of JLL are handling both sales.