Boyne Tower
Drogheda, Co. Louth
Sold
€1,350,000
Property Highlights
- High profile centrally located modern office opportunity
- Convenient location approx. 2.5 km from the M1 motorway
- Extending to approximately 2,183 sq.m. / 23,498 sq.ft. GIA
- Approximately 1,307 sq.m. / 14,069 sq.ft. of fitted office accommodation
- Approximately 266 sq.m. / 2,858 sq.ft. of retail space set out in shell and core configuration
- Genuine asset management opportunity
- Total passing rent of €87,340 per annum with potential to generate a yield of approx. 13.5% upon leasing of vacant space
- ERV in excess €200,000 per annum
- Guide price represents an attractive capital value of €57.50 per sq.ft., significantly below replacement cost
Property Location
Boyne Tower is positioned adjacent to the River Boyne, in central Drogheda, approx. 2.5 km from Junctions 9 and 10 on the M1 motorway and approx. 25 minutes from Dublin airport. Drogheda train station is within 10 minutes’ walk of Boyne Tower, with a 40-minute travel time to Dublin. Drogheda benefits from a wide variety of amenities, to include Drogheda Town Centre shopping centre, St. Dominic’s Park and Drogheda Museum. Restaurant and hospitality offerings include The D Hotel, Boyne Valley Hotel & Country Club and Scholars Townhouse Hotel.
Property Description
The property is a high profile 2,183 sq.m. (approximately. 23,498 sq.ft.) GIA 5-storey over basement building located in the centre of Drogheda. The offices are fitted out to a Grade A standard throughout, with two retail units on the ground floor presented in shell and core specification. There are flexible open plan floor plates with floor to ceiling heights of approx. 2.8 metres and floor to ceiling glazing with views of the River Boyne. Specification includes LED lighting and air conditioning, with a cooling/heating range of 100W - 150W per sq.m. The property also features a 6-person passenger lift.
Lease Terms
The building is let to Outsource Support and IT Governance, with a mast let to Three Ireland, at a total passing rent of €87,340 per annum.
There is opportunity to increase the rental income to over €200,000 per annum upon letting of approx. 1,098 sq. m. (11,819 sq. ft.) of vacant office and retail space.
Property Size/Area
2,183 sq. m. (23,498 sq. ft.) GIAProperty Status
SoldBER Details
Ber Number - 800229528
Ber Energy Performance Indicator - 504.84 kWh/m2/yr 1.43
Property Location
Documents
QRE Contact
David O'Malley
MRICS MSCSI
Director Agency
David is Director of the QRE Agency and Investment Team. He is a fully qualified Chartered Surveyor ... View More
+353 86 857 9209
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