Offices and a health clinic which form part of Bray Civic Centre in Co Wicklow and are let to the HSE are to be offered for sale by private treaty.
Agents JLL is seeking in some €11 million for the modern Block B which extends to 3,437sq m (37,000sq ft) and comes with 65 parking spaces. The investment is let to the HSE on a 25-year full repairing and insuring lease which has another 12 years to run.
The annual rent of €917,310 is subject to five-yearly upwards-only reviews.
The HSE uses the property primarily for office administration but also sets aside part of the ground floor for a health clinic which includes a reception area, waiting rooms and a number of suites.
The building is well fitted out, and has a combination of open plan and cellular offices, along with a canteen and a large rooftop balcony.
Bray Civic Centre was developed in 2002, and includes offices for Bray Town Council, Bray Courthouse, Wicklow Arts Centre and the Legal Aid Board, as well as a number of cafes and restaurants.
Max Reilly of JLL is expecting considerable interest in what he calls a "significant asset with long income to a grade A covenant and an upwards-only rent review clause that would deliver an excellent return."
