14-16 Lord Edward Street comprises nine office suites ranging in size from 845sq ft to 3,067sq ftAgent JLL is guiding a price of €8.8 million for No 14-16 Lord Edward Street, an attractive property comprising nine office suites in the heart of Dublin city centre.
The proposed sale of the property comes seven years on from its acquisition for €7.1 million by its current owner, an American investor. The price paid on that occasion represented a 16 per cent premium on the building’s then guide price of €6.1 million. At the time the investment had a limited weighted average unexpired lease term of 2.09 years and a total rental income of €457,917 per annum.
Located almost directly opposite Dublin Castle, the subject property comprises a period building converted into contemporary offices in 2007. The accommodation extends to a total floor area of 14,156sq ft across nine office suites and has a lift serving all floors. The office suites range in size from 845sq ft to 3,067sq ft. The current tenant line-up includes the Irish Film Board, Dublin City Council, Grad Ireland, and Heneghan Peng Architects.
Since being acquired by the current owner the Irish Film Board, who are a government-backed national agency for film funding, has expanded within the building and now occupies 25.4 per cent of the space across three suites. Heneghan Peng has also consolidated space in the building and vacated a suite that was surplus to its requirements. It also recently had a break option on the existing space which was not exercised.