German real estate specialist Deka Immobilien has acquired a well-located office building in Dublin's city centre for €37 mln.
The property on 40 Molesworth Street boasts a prestigious address near Trinity College, Grafton Street, and St Stephen's Green.
The office building will be added to the portfolio of the open-ended real estate fund WestInvest InterSelect, and is being sold by an institutional investor.
Originally built in 1979, the property underwent a comprehensive renovation in 2017. It provides around 3,100 m2 of modern office space and 21 parking spaces, boasting LEED Gold and BER A3 certifications for sustainability.
The building is fully leased to two high-credit tenants, with global law firm DLA Piper serving as the anchor tenant. It also hosts a major branch of optical and hearing services provider Specsavers.
With this acquisition, Deka Immobilien secures a high-quality asset in Dublin's CBD, home to many leading companies offering technological, legal, and financial services. Additional amenities such as coffee shops, restaurants, bars, and high street retail are located within the immediate neighborhood.
The property is directly connected to the Dawson Street Luas Light Railway and Pearse Station and is additionally served by numerous bus routes and the Dublin Airlink Express to the airport.
Savills advised the vendor on this deal.
