2 Dublin Landings, a long income office investment, is being offered for sale by Savills, on instructions of James Anderson of Deloitte Ireland. The opportunity is guiding a price of €60 mln.
2 Dublin Landings was built by Ballymore in 2018 to an exceptional standard and spans 9,341 m2. Known for its architectural and sustainability excellence, the building is certified LEED Platinum and BER A3, making it ideal for occupiers that are committed to environmental goals.
The asset offers long term income, generating an annual rent of €4,070,626 with a weighted average unexpired lease term (WAULT) to break of approximately 12.2 years, and to expiry of about 13.8 years. The majority of the space is leased to WeWork, the international flexible workplace provider. The two penthouse floors are vacant, and present with modern fit-outs in place, further enhancing their appeal in the leasing market.
Located in Dublin’s evolving North Docklands, 2 Dublin Landings is part of the larger Dublin Landings development, which includes office space, residential units, retail areas, and hotel accommodation. This mixed-use setting forms a dynamic urban community.
Office occupiers in the area include PWC, Salesforce, Citi, Central Bank of Ireland, Yahoo, Gilead Sciences and A&L Goodbody.
Fergus O’Farrell, director at Savills Ireland, commented on the sale: 'The sale of 2 Dublin Landings presents an opportunity to acquire a sustainable long income office investment within a renowned and award-winning urban design setting.'
