The ongoing transformation of the Dublin 8 area and the redevelopment of the former Player Wills Bailey Gibson lands in particular should help to draw a wide range investors to the sale of Bloomfield House on the South Circular Road.
Bloomfield House is occupied by two tenants, both of whom have the benefit of own-door access to their respective offices. The first floor of the property is let on a five-year lease from July 1st, 2021, to mechanical and electrical building services company Delap and Waller. The annual rent, which was agreed on a stepped level, averages out at €71,250 per annum over the five years and includes three car-parking spaces. The combined rent between the two tenancies equates to €230,200 per annum, giving the purchaser an initial yield of around 6 per cent.