The Strategic Capital Investment Fund managed by Davy has paid close to €4 million for a particularly attractive office investment based on a former Methodist Church and Community Hall at Charleston Road in Ranelagh, Dublin 6.

BNP Paribas Real Estate initially guided €3.8 million for the building now known as Trinity Hall which was redeveloped and interlinked into a stunning new offices with a glass lift serving all floors.

Floor area

The office complex, completed by Ballymore, has an overall floor area of more than 1,138sq m (12,255sq ft) and is occupied by accounting firm Baker

Tilly Ryan Glennon

at a rent of €286,000 per annum.

There are 29 car parking spaces on site. The new owners will get an initial return of 6.85 per cent on their investment.

Peter Flanagan of BNPPRE said the passing rent of €188 per sq m (€17.50 per sq ft) presented the new owners with genuine prospects of both rental and capital growth in the short term.