MERCURY HOUSE RAVENSCOURT - 2 Grand Parade 19 & 19A Dartmouth Road, Dublin 6
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For Sale Individually or as
One Lot by Private Treaty
RAVENSCOURT
MERCURY HOUSE
Sandyford Business Park, Dublin 18
LUAS GREEN
LINE
BEACON HOTEL/ BEACON SOUTH MERCURY HOUSE RAVENSCOURT
GRAFTON GROUP
BEACON HOSPITAL QUARTER
DUN & STILLORGAN LUAS
BRADSTREET STATION
KEY POINTS
• Total gross internal floor area 8,522 sq m
(91,731 sq ft)
• Total rent of €1,119,798 p.a.
• Tenants include Chill Insurance, Mercury
Engineering and Innopharma
• 90% occupied
• Asset management potential through letting
of vacant space and re-gearing existing
leases
MICROSOFT/
MARS, IRELAND BLACKTHORN RD.
SALESFORCE
RAVENSCOURT THE OPPORTUNITY On behalf of the Vendors, CBRE are delighted to present Ravenscourt & Mercury House; an exceptional collection of office buildings situated in Sandyford, Dublin’s premier suburban office location. The assets, which extend to a total gross internal floor area of 8,522 sq m (91,731sq ft) are producing an annual income of €1,119,798 per annum. Sandyford’s proximity to the amenities of the south suburbs, ease of accessibility to the City Centre by road and LUAS, coupled with quality occupiers in the vicinity make it an attractive office location. Ravenscourt & Mercury House provide the opportunity to implement a number of asset management and value-add opportunities. They include leasing and lease restructurings at a time when the suburban office rental market is experiencing significant growth.
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SOUTH SUBURBAN OFFICE TAKE UP
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Source for both charts: CBRE Research, Q2 South Suburban Office Review 2016
LOCATION The Sandyford Business Park is a highly successful and established business environment in the heart of the South Dublin suburbs, approximately 9 kms from Dublin city centre. This mixed use is strategically situated in a pivotal location at one of the main gateways to the City Centre. The area is characterised by numerous modern commercial and residential developments including large scale schemes at Beacon South Quarter, Beacon Court and Central Park. Sandyford benefits from prime public transport links with its own Luas stop that takes passengers direct to St. Stephen’s Green in 22 minutes. It is also easily accessible by car, with the M50 Junction 13 interchange immediately to the south providing access to a host of national arterial routes and Dublin Airport in 25 minutes. In addition there are numerous Dublin Bus routes that serve Sandyford which connect to the city centre, Tallaght, Dun Laoghaire and Bray as well as an Aircoach link direct to Dublin Airport. The Sandyford area is the number one suburban business location in Dublin and is home to a large number of high profile multi-national occupiers including Microsoft, Avid, Dun & Bradstreet, Vodafone, Salesforce, Bayer, Avaya and many others. A major attraction of Sandyford for these corporate occupiers is the host of amenities in the vicinity. These include: Retail - Dunnes, Aldi, Centra, Spar, Woodies, BoConcept, EZ Living, Maxi Zoo Hotels - The Beacon Hotel, Bewley’s Hotel Eateries - Pizza Hut, Starbucks, Munchies, La Dolce Vita, Barista Café, Michie Sushi, Woodfire & Green Childcare - Park Academy Childcare, Cherry Blossom Creche, Kidz Biz Nursery Gym / Leisure - Ben Dunne Gym, Chapter 2 Fitness, CrossFit, Ski Centre, Jump Zone Others - Beacon Hospital, Sandyford Motor Park
RAVENSCOURT
SPECIFICATION
Ravenscourt benefits from excellent profile on to Blackthorn Road in the heart
of Sandyford Business Park. It is just 650 metres from the Sandyford LUAS
(Green Line) stop which serves Dublin City Centre at St. Stephen’s Green in
only 22 minutes.
• Raised access platform flooring
Ravenscourt comprises a multi let, stand alone office development which is • Suspended ceilings incorporating
divided over 5 blocks. The property extends to a Gross Internal Floor Area of CAT 2 lighting
approximately 5,780 sq m (62,211 sq ft) together with a total of 119 car spaces
• High Speed Data Cabling
at basement level.
• Gas Fired Central Heating
The largest building, Block B comprises a six storey detached office property • Split systems air conditioning in
with glass façade which benefits from frontage onto Blackthorn Road. Blocks A, D & E with a VRF system
Internally the property is finished to a high standard with raised access floors in Block B
and suspended ceilings
Block C, D & E comprise 3 storey office buildings which extends to 3,256.53
sq m (35,052 sq ft). Internally the properties are broadly “L” shaped which
provides flexibility for occupier requirements. Block E is currently vacant but
is in “turn-key” condition, fitted and suitable for immediate occupancy.
Block A comprises a two storey detached restaurant and is fitted out to a high
standard. This unit extends to an area of approx. 235 sq m (2,530 sq ft) GIA.
TENANCY TENANT LEASE TERM BREAK NEXT RENT CURRENT USE SIZE CARS
BLOCK NAME START YRS CLAUSE REVIEW RENT PA SQ FT
(GIA)
BLOCK A Ciara Reid & 1-Jan-03 25 31-Dec-27 1-Jan-18 €65,000 2 Retail 2,530 2
Maeve Reid
t/a Brambles
Delicatessen &
Café 1
BLOCK B Chill Insurance 5-Dec-14 10 5-Dec-19 5-Dec-19 €356,313 Offices 24,642 60
BLOCK C Innopharma Labs 1-Oct-15 15 1-Oct-22 1-Oct-20 €255,056 3 Office 18,065 15
Ltd
BLOCK D Chill Insurance 1-Aug-16 10 1-Aug-21 1-Aug-21 €128,696 Offices 8,478 10
BLOCK E Vacant Offices 8,496 8
Additional Mercury
1-Jan-05 4 20 31-Dec-20 €24,000 Cars 24 24
Car Spaces Engineering Ltd
TOTAL €829,065 5 62,211 119
Block A 1 Tenant has right to assign to Dunbair Ltd before September 2017, subject to payment of €50,000 security deposit.
Block A 2 Contracted rent is abated to €45,000 until 31 December 2018.
Block C 3 Innopharma have 10 months’ rent free left on their lease with 3 months in Year 2-4 & 1 month in Year 5.
Car Parking 4 Car spaces held by way of licence agreement.
Total 5 The net effective rent is €755,927p.a.
MERCURY HOUSE
TENANCY LEASE TERM BREAK NEXT RENT CURRENT SIZE CARS
START YRS. CLAUSE REVIEW RENT PA SQ FT
(GIA)
Mercury 1-Jan-05 20 31-Dec-20 1-Jan-21 €310,733 29,520 52
Engineering
LtdMercury House benefits from profile
on to Ravens Rock Road in the heart
of Sandyford Business Park. It is just
650 metres from the Sandyford
LUAS (Green Line) stop which
serves Dublin City Centre at St.
Stephen’s Green in only 22 minutes.
Mercury House is a detached
building which is currently in office
and storage use and extends to
a Gross Internal Floor Area of
approximately 2,742 sq m (29,520
sq ft) together with a total of 52
surface car spaces.
SPECIFICATION
• Concrete floors
• Suspended ceilings incorporating
CAT 2 lighting
• Gas fired Central Heating
• 8 Person LiftPLANNING PROPOSAL
The properties are located in an area Ravenscourt & Mercury House are being offered
that is zoned A2 “to provide for the for sale individually or as one lot by Private
creation of sustainable residential Treaty. It will therefore be necessary for buyers
neighbourhoods and preserve and to apportion individual purchase prices for each
protect residential amenity” In the of the assets in addition to an overall price, if
Dun Laoghaire Rathdown County bidding on both properties.
Development Plan 2016-2022.
No warranties or guarantees in any respect,
including but not limited to VAT, can be given.
The Vendors are not bound to accept the
highest, or indeed any offer, and are acting
without personal liability. For the avoidance of
doubt, please note that this is an investment
sale, therefore all tenants are unaffected.
RAVENSCOURT
MERCURY HOUSE
BER
WILLIE NORSE RAVENSCOURT
T: (01) 618 5529 BER C1 – D1
E: Willie.norse@cbre.com BER No. 800152175 – 800152167
MERCURY HOUSE
STEPHEN AHERNE
BER E1
T: (01) 618 5718 BER Number 800474389
E: Stephen.aherne@cbre.com
DISCLAIMER: CBRE
These particulars are issued by CBRE Ireland on the understanding that any negotiations relating to the property are conducted through them. While every care has been taken in preparing
them, CBRE Ireland for themselves and for the vendor/lessor whose agents they are, give notice that:- (i) The particulars are set out as a general outline for guiding potential purchasers/
tenants and do not constitute any part of an offer or contract. (ii) Any representation including descriptions, dimensions, references to condition, permissions or licenses for uses or occupation,
access and any other details are given in good faith and are believed to be correct, but any intending purchaser or tenant should not rely on them as statements or representations of fact
but must satisfy themselves (at their own expense) as to their correctness. (iii) Neither CBRE Ireland, nor any of their employees have any authority to make any or give any representation or
warranty in relation to the property.You can also read
