Lad Lane of­fice on short term lease

Irish Independent - Business Week - - COMMERCIAL PROPERTY - Tara Fitzsi­mons

COL­LIERS In­ter­na­tional have been in­structed to dis­pose of 10 Lad Lane, Dublin 2 – a mews build­ing cur­rently in of­fice use, held on a short term lease.

The prop­erty com­prises a two storey, mid ter­race mews cur­rently in of­fice use which ex­tends to 1,420 sq ft net in­ter­nal area and in­cludes two car spa­ces and a se­cluded rear gar­den.

The prop­erty is let on a short term lease to Imag­ine Mar­ket­ing Pro­mo­tions, at a rent of €30,000 per an­num which ex­pires in Au­gust 2018.

Lad Lane pro­vides a mix of high qual­ity res­i­den­tial and com­mer­cial uses. Al­though the prop­erty is cur­rently in of­fice use, the pur­chaser may con­sider con­ver­sion to a res­i­den­tial use, SPP, at lease ex­piry.

Col­liers In­ter­na­tional is quot­ing €575,000 which equates to a net ini­tial yield of 5pc af­ter al­low­ing for stan­dard pur­chasers costs of 4.46pc and a cap­i­tal value of €400 per sq ft.

The agents say Lad Lane is un­der­go­ing sig­nif­i­cant re­de­vel­op­ment with the new LinkedIn head­quar­ters cur­rently un­der con­struc­tion.

As well as the LinkedIn ac­tiv­ity, the re­de­vel­op­ment of the for­mer Bank of Ire­land HQ Miesian Plaza on Bag­got Street is ex­pected to fur­ther add to the ap­peal within the im­me­di­ate area.

Col­liers is quotng €575,000 for the prop­erty

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