Knight Frank are delighted to introduce Mount Pleasant Business Park to the market, a fantastic office investment opportunity in an outstanding location in Ranelagh, Dublin 6. We are are guiding excess €3 million for the multi-tenanted property which is expected to generate strong interest from investors seeking exposure to the rising Dublin office investment market.
Mount Pleasant Business Centre consists of seven two storey converted office units providing a total of approx. 1,869.30 sq.m. of floorspace and comes with ancillary parking for approx. 30 cars. The property was formerly a Tayto Crisp factory which was redesigned and remodelled into office floorspace in the mid-nineties. As each unit is self-contained, agents indicate there may be the possibility to purchase in one or more lots.
It is expected to primarily suit private investors from whom there is a strong demand for quality assets of this lot size.
The property is currently 76% tenanted under a total of nine separate tenancies producing a rental income of €308,400 per annum. With further letting space available, there is excellent opportunity to increase income through further asset management. Furthermore the properties location may also lend itself to redevelopment to residential use in the longer term.
The tenants currently in place at the business centre are Procuro Euro, Dublin Web Summit, IN2 Engineering, Bucholz McEvoy Architects, Clever Bug, One World Resourcing, Coady Partnership Architects, Aura and Holohan Leisure.
For more information see KnightFrank.ie