Savills has been appointed to sell Harcourt Life Assurance Company’s 70.8% share in Riverside One in central Dublin for €75m (£54m).
The 126,000 sq ft office building is jointly owned by Harcourt and Aviva.
The Anglo Irish Pension Fund was the original owner of the stake. Derek Quinlan, one of Dublin’s biggest pre-crash investors, had invested in the fund before it was bought out by Harcourt.
The prime office is the headquarters of McCann FitzGerald Solicitors. The firm has 16 years left on its lease and is paying circa €42 per sq ft. The rents are likely to rise considerably at the upcoming rent review due to the scarcity of stock in the Irish capital.
Riverside One is situated just behind the Facebook building on the River Liffey. The buildings are considered to be two of Dublin’s most sought-after assets.
