Irish Times - June 28, 2006
The EBS Building Society is to offload an office block with tax breaks in the heart of the The International Financial Services Centre in Dublin which is let to JP Morgan Bank. The 10-year-old block, 1 George's Dock, is expected to make between €45 million and €50 million when it is goes to tender on July 31st.
The five-storey over basement building is rented by JP Morgan Bank (Ireland) Ltd under a 25-year lease with another 15 years to run. The overall rent for the 3,926sq m (42,255sq ft) block and 46 car-parking spaces is €2,243,627. However, JP Morgan only pays 80.44 per cent of the full rent, equating to almost €2 million per annum. That works out at €509 per sq m (€47.33 per sq ft) - a relatively strong rent considering that it was last set in December, 2001.
Sphere: Related Content
Thursday, June 29, 2006
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment