€75m majority stake in docklands office for sale

Demand for high-quality office accommodation in the sought-after Dublin Docklands shows little sign of abating as one of the final office buildings in the vicinity hits the market with a €75m price tag.

A 70.8% stake in the ‘Riverside 1’ office building beside The Ferryman pub on Sir John Rogerson’s Quay was yesterday brought to market by Savills. The building is let in its entirety to McCann FitzGerald, one of Ireland’s leading law firms, and currently accommodates 450 staff while Aviva is retaining its 29.2% stake in the development.

“An opportunity to acquire one of Dublin’s most recognised office buildings is extremely rare; therefore we expect demand from a wide variety of investor types either seeking to expand an already established property platform in Ireland or alternatively those seeking to enter the market for the first time,” the Savills agents handling the sale said yesterday.