A private investor has bought the former EBS headquarters office building at Townsend Street, Dublin 2, for almost €8 million, slightly above the €7.5million guide price
The new owner has not yet given any indication if he plans to redevelop the site to enlarge the office content or whether it is planned to replace the offices with a hotel or student accommodation.
A feasibility study for the previous owner of the 1980s block and the adjoining 0.3 acre site with 16 car parking spaces and an external stores spelt out the options for replacing the four-storey block with a nine-storey building to accommodate 119 hotel suites or a scheme of 168 student accommodation beds. The study also looked at the option for a seven-storey office building with floor areas of 4,248sq m (45,723sq ft).
Anthony Nicholas Ltd occupies the building on a five-year lease from last summer at an annual rent of €450,000. The lease includes a mutual break option at the end of year two and a rolling mutual break option thereafter.
Richard Bielenberg of Colliers International handled the sale.
