Park West office building has a guide price of €3.5 million

AN OFFICE building on Joyce Way in Park West Business Park has gone on the market with a guide price of €3.5m.

The property, which is Block 14, is a three-storey, purpose-built standalone office building that comprises approximately 2,524 sq.m. of office space.

The building features a three-storey atrium style entrance, and it has raised access floors with carpets, suspended ceilings, air-conditioning, and floor boxes wired for power.

Kitchenette facilities are included in the property, as is an eight-person passenger lift serving all floors.

The building offers both open-plan and cellular offices, and each floor has the benefit of male and female toilets. There is both dedicated bike storage and shower facilities in the building.

Current tenants include ICRLA, Client Solutions (EY) and Orchard Fostering, generating a passing rent of €401,161 per annum, and tenants are not affected by the sale of the building.

Offers are sought in the region of €3,500,000, which represents a NIY of 10.42 per cent after the deduction of standard acquisition costs at 9.96 per cent.