Agent TWM expects to see strong interest both from potential occupiers and investors in a newly refurbished office building it is offering to the market at Westland Business Park in Dublin 12.
Located just a two-minute drive from the intersection of the N7 and M50 motorway, Block A comprises 25,479sq ft of office space distributed across three floors, along with 70 car parking spaces. The property is available to rent, or to purchase at a guide price of €5 million.
Russell Cleere, who is handling the sale on behalf of TWM, notes that the overall capital rate of €196 per sq ft is below the current build cost for the real estate without factoring in the site value.
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He says: “With investors and businesses facing continued inflationary pressure on build costs and negative deposit rates, there could be an opportunity and value in buying their own building. Strategically there is an opportunity to add value to this asset by creating a sale and leaseback in the future.”
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Westland Business Park is a well-established and well-located suburban office development. The scheme is situated just 1.5 km from junction 9 on the M50, 1.5 km from Park West train station 1.5 km from the Kylemore red line Luas stop. There are park-and-ride facilities available at the Red Cow terminus. Westland Business Park is a 25-minute drive from Dublin Airport and the city centre.
