JLL and CBRE have been appointed to sell Tetrarch Capital’s Harp Portfolio for a price in excess of €28.5m.
The portfolio is made up of four city centre office buildings in Dublin 1 and 7 providing long-term government income.
The offices include 48-49 North Brunswick Street, 31-35 Bow Street, 89-94 Capel Street and 21-24 Green Street.
The portfolio, which has an overall weighted unexpired lease term of about 8.5 years, is producing a rent of €2.3m pa.
Some 98% of the income is generated from government tenants or government-backed tenants.
The Irish Human Rights and Equality Commission has just let three of the six floors at 21-24 Green Street on a 20-year lease, with a tenant break option in year 10.
In addition, the penthouse of the building is the only vacant floor within the entire portfolio and the vendors are confident this may be let in advance of a sale being completed.
