Green Property is to sell its 20-year-old office building in Leopardstown, with scope to substantially increase the size of the development.
The property is currently let to Microsoft on what Colliers describe as "flexible lease terms" up to January 2020. Microsoft is paying a rent of €1.97m per annum for the block, and there are said to be earlier break options in the lease terms.
In its current form, Block 2 offers accommodation of 8,111 sq m (87,306 sq ft) along with 283 car parking spaces. Importantly, the property sits on a site of 2.4 hectares. That gives any buyer huge scope for redevelopment if they so desire.
The Sandyford Urban Framework Plan provides for a plot ratio of 1:1.5 to facilitate additional office-based employment in the park which is managed by IDA Ireland.
Article Published: 17/05/2016