The combination of the sheer weight of capital raised for real estate investment and the relative dearth of prime opportunities to have emerged since the easing of Covid-19 restrictions is expected to see strong interest in the sale of No 1 Harbourmaster Place.
One of the first office blocks to have been developed in the IFSC, the property has been brought to the market by agent CBRE at a guide price of €54 million,
The entire is let to KPMG under a 35-year lease from February 1991, which expires in 2026. The tenant is currently paying an annual rent of € 3,054,863 which breaks back to €46 per sq ft and €3,750 per car space.
Rent reviews are upwards-only at five-year intervals, leaving one final review to be completed in 2021. The lease is on standard institutionally-acceptable full repairing and insuring (FRI) terms.
The guide price of €54 million reflects
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