Agent BidX1 is guiding a price of €2.95 million for a fully let office investment at Grand Canal Dock in Dublin’s south docklands. The sale of 4 Hanover Wharf offers the prospective purchaser the opportunity to secure immediate rental income of €218,970 annually, reflecting an attractive initial net yield of 6.75 per cent.

The subject property comprises a modern office space located on the ground floor of a residential apartment block. The own-door property extends to 552 sq m (5,941 sq ft) and comes with the benefit of four dedicated basement car-parking spaces as well as an outdoor terrace area to the rear.

While the office was let initially to MCA Architects on a 10-year lease starting in June 2015, the terms of that agreement have since been renegotiated, extending the lease to May 2027. The property generates €218,970 in rent annually, with €209,970 of this income derived from the office itself and €11,000 from the car-parking spaces.

Johnny O’Connor of BidX1 says: “Home to tech giants Google and Facebook, and other global leaders including Accenture, HSBC and Airbnb, Dublin’s south docklands is one of the capital’s most desirable office locations. The acquisition of 4 Hanover Wharf will provide the investor with an immediate, strong income stream in a premium location.”