Marine House, Clanwilliam Place, Dublin 2 has been sold for €26.5 million.
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.