Block 2 at Swift Square is let in its entirety to the ESB and is being sold as part of the Swift Square and Metro Park Collection
That process has already seen the developer dispose of the Meridian Centre in Greystones, Co Wicklow and Gulliver’s Retail Park in Santry in separate transactions worth €7 million and €30 million in the final quarter of 2023 and first quarter of this year respectively.
Lot 1 comprises two fully let office blocks, namely 1 and 2 Swift Square, and an adjoining car park/residential site with full planning permission for 192 apartments. Block 2 is let to the ESB in its entirety while Block 1′s 10-strong tenant line-up includes BMW, Close Brothers, the National Standards Authority of Ireland and Affidea. The weighted average unexpired lease term is 3.1 years to break and 5.9 years to expiry.
These include a concierge reception, a gym and multifunction space, as well as communal open spaces and parking for 362 cars, 33 motorcycles and 522 bicycles. A total of 254 of the car parking spaces will be for the benefit of the existing office buildings.The guide price for Lot 1 is €38.5 million, and this element of the overall portfolio offers the prospective buyer a yield of 9.9 per cent based on the current contracted rent of €4,193,179 per annum.
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Source: IrishTimes - 🏆 3. / 98 Read more »