Joint Agents Murphy Mulhall and Lisney secure sale of Marine House, Clanwilliam Place, Dublin 2.
The building which extends to approx. 3,810.32 sq.m. (41,014 sq.ft.) has been sold to Hibernia REIT for €26.5 million. (The guide price was €23 million). This equates to a net initial yield of 4.21% and a sale price of €658 per sq.ft. The building is currently producing a rent of €1,188,618 per annum. Occupiers include Crowe Horwath, WK Nowlan, Waterman Moylan and Ellucian IT.
Both selling agents received significant interest from a range of institutional and private investors which demonstrated a continued demand for investment opportunities of this lot size.