Two office blocks in Cookstown have a guide price of €5 million

TWO blocks at the Cookstown Court office development in Tallaght have gone on the market with a guide price of €5m.

The two blocks – Block A and Block B – are four-storey over double-basement, semi-detached office buildings situated on the southern side of the Cookstown Estate road.

Comprising two modern self-contained office buildings, the blocks are currently producing a highly reversionary rental income of €396,216, excluding VAT, across five tenancies with an average passing rent of €115 per sq.m.

The office blocks extend to a gross internal area of 3,585sq m (38,594 sq ft) with 124 on-site car parking spaces.

Both buildings provide occupiers with average floor plates sizes ranging from 290 – 590 sq.m (3,121 – 6,350 sq.ft.).

The buildings were constructed in 2005 and designed by HKR Architects. According to the listing for the properties, both buildings front onto an attractive landscaped courtyard and form part of the Cookstown Court office development.

BNP Paribas Real Estate are guiding “a competitive sale price” in excess of €5 million, or €130 per sq.ft. capital value, for the blocks, “which is significantly below replacement cost”, according to the property listing.