Irish property investors Iput has recruited advisor Savills to market 73-83 Lower Mount Street, Dublin 2, for €37.5 mln.
Extending to 60,207 sq ft (5,600 m2), the office block is located in a prime Dublin CBD location, with 100% Government income for over 5 years to break and 8.5 years to expiry and with long-term redevelopment potential.
The guide price at €37.5 million reflects a very attractive net initial yield of 5.75% (after standard purchasers’ costs).
Planning has been granted for the demolition and redevelopment of the property to incorporate a state of the art five storey over basement office building extending to 117,177 sq ft (GIA). The development will feature external terraces on the fifth floor and include space for 90 bicycle spaces and 20 car parking spaces at basement level.
