Savills has been appointed to sell Shelbourne House in Ballsbridge, Dublin, at a guide price of €31m.
The price reflects a yield of 4.9% and a capital value of €482 per sq ft on the seven-storey building near the city centre.
The 64,000 sq ft office and residential investment property is let to An Post, the Office of Public Works and the Malaysian Embassy with a total rent of about €1.6m a year.
The neighbouring Ballsbridge Hotel site sold last July to Joe O’Reilly’s Chartered Land and the Abu Dhabi sovereign wealth fund, and will also be redeveloped into 568 top-end apartments, a 152-bedroom hotel and retail and commercial space.
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