Agent Knight Frank is guiding a price of €6.85 million for 2024 Bianconi Avenue at Dublin’s Citywest Business Campus.
The subject property comprises a two-storey office headquarters building of 1,777sq m (19,127sq ft), together with a self-contained warehouse extending to 2,813sq m (30,278sq ft). The property has 67 car-parking spaces.
The offices, which are vacant, have a flexible layout incorporating both open-plan areas and cellular offices/meeting rooms.
The South Dublin County Development Plan 2022-2028 permits office, industrial, science/ technology-based uses. Appropriately scaled commercial healthcare uses may also be considered for the property subject to further consultation, the selling agent says.
The warehouse has independent access and is let to Hevac Ltd (part of the Wolseley Group) until December 2030.
Number 2024 occupies a high-profile site extending to three acres (1.21 hectares), with frontage on to the N7. The subject property is located within a 10-minute walk of the Luas Red Line stop at Saggart.
Citywest Business Campus has long been regarded as one of Dublin’s key commercial hubs, with occupiers in the area including software and technology solutions provider SAP, semiconductor specialist AMD (Advanced Micro Devices) and healthcare services giant Uniphar.
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Tom McNamara of Knight Frank says: “We expect strong interest from both owner-occupiers and investors seeking value-add potential.
“The existing income from the warehouse generates short-term cash flow while offering potential for future asset management, regear or redevelopment, subject to planning permission. On a stabilised basis, following the letting of the office accommodation, we would anticipate a net return in the region of 10 per cent.”