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10/10/2014
Dublin's Cumberland House On Market For €50m
One of central Dublin’s best known office buildings is up for sale at a guide price in the region of €50 million.
Built in 1977, Cumberland House is a seven-storey, over-basement office building in the centre of Dublin 2.
Mark Reynolds, Director of Development & Consultancy at Savills Ireland, the company that has put the property on the market, said: "Cumberland House is a unique development opportunity that offers a purchaser the ability to provide a prime Grade A office building in a highly accessible and central location. The benefit of the existing planning permission ensures the certainty of deliverability in a timely fashion that will allow potential occupiers to consider Cumberland House immediately as a future destination."
Take-up of office space in the city in the first six months of 2014 was just over 98,000 sq m. Take up for 2014 as a whole will be approximately 200,000 sq.m., according to Savills, which will amount to the highest level of activity in six years.
Approximately 71% of this space (70,000 sq m) was taken in Central Dublin.
Cumberland House is being sold with vacant possession by way of private treaty.
Savills said it had "already received considerable interest from both local and international investors and developers".
(IT/MH)
Built in 1977, Cumberland House is a seven-storey, over-basement office building in the centre of Dublin 2.
Mark Reynolds, Director of Development & Consultancy at Savills Ireland, the company that has put the property on the market, said: "Cumberland House is a unique development opportunity that offers a purchaser the ability to provide a prime Grade A office building in a highly accessible and central location. The benefit of the existing planning permission ensures the certainty of deliverability in a timely fashion that will allow potential occupiers to consider Cumberland House immediately as a future destination."
Take-up of office space in the city in the first six months of 2014 was just over 98,000 sq m. Take up for 2014 as a whole will be approximately 200,000 sq.m., according to Savills, which will amount to the highest level of activity in six years.
Approximately 71% of this space (70,000 sq m) was taken in Central Dublin.
Cumberland House is being sold with vacant possession by way of private treaty.
Savills said it had "already received considerable interest from both local and international investors and developers".
(IT/MH)
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