87-89 Pembroke Road is currently let to Bank of Ireland and US embassy
A long-income office building in the heart of Dublin 4 is coming to the market guiding €16 million, reflecting a running yield of 7.8 per cent. The sale of the property by Irish Life’s property fund is expected to attract strong interest from both institutional and wealthy private investors.
The third floor extends to 7,935sq ft and is currently leased to the US embassy until 2033, with a tenant break option in 2031. The remaining accommodation on the part ground floor and second floor is currently available to let, and the floors are presented in CAT A condition.
Although the energy ratings on the property range from B1-D1, the vendor has also commissioned a Ber improvement plan which includes a roadmap to Ber A3 at an estimated cost of €1.1 million. Additionally, the building has received a provisional BREEAM In-Use Pass rating, with an identified roadmap to achieve BREEAM Very Good.
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