A four-storey office block in Dublin’s IFSC has been sold for almost 20% above the €4.4m guide price sought by agents QRE. The property, located at 12-13 Exchange Place, was offered for sale on behalf of receivers PwC with a vacant 11,351 sq. ft. top floor. However, one of the existing tenants, Elix Aviation, opted to rent the top floor, which triggered a renewed round of bidding before the property was sold to a private Irish investment fund for €5.175m. The rent roll of the property is now €290k p.a., offering the new owners a return of 5.5% after allowing for purchasing costs of 4.46%. The Irish Times, 18th January
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