SALE
We sold this prime office development on behalf of a private consortium to German investor, KanAM Grund in Q1 2020. BNP Paribas Real Estate asset managed the property since it was redeveloped in 2006. We achieved a sales price in excess of €35 million for our client in complete confidentiality in an off market process. 1 Upper Hatch Street is a Grade A, 8 story over basement modern office building located in the heartland of Dublin’s traditional Central Business District. The building, which extends to net internal area 2,743 sq m, was redeveloped and extended. The building is predominately occupied by “Big Four” audit firm, Deloitte who have office accommodation on 7 of the 8 floors with US based Tax Advisor H&R Block also occupying a floor. The total rent roll coming off the building at the time of the transaction was c. €1.55 million, therefore the yield that KanAm Grund could expect is c. 4%.
