Davy Real Estate has appointed Savills to sell its 20 on Hatch office development in Dublin.
The investor is seeking €26.5m (£22.6m) for the 44,735 sq ft city centre block.
The building, on Hatch Street Lower, is currently let to tenants including Medtronic and MetLife and has a weighted average unexpired lease term of around three years.
This sale is expected to reflect a net initial yield of 8.07%, which translates to €592 per sq ft, after acquisition costs.
Fergus O’Farrell, director of investment for Dublin at Savills, said: “The sale of 20 Hatch Street Lower is a prime opportunity to secure a prestigious office investment in a sought-after Dublin location. With a strong tenant base and the advantage of significant repositioning potential, this property represents a strategic acquisition for discerning investors.”
Photo courtesy of Savills
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