Douglas office well worth an investment

An income of €91,000 per annum is on offer in the €1.1m sale of a Douglas ‘village’ office investment in Cork.

Douglas office well worth an investment

Listed this week as an investment with agent Sean Healy of DTZ Sherry FitzGerald is School House Studio/Montrose House, near Barry’s pub in the heart of old Douglas, totalling over 9,000 sq ft in two linked buildings, one a new build, the other an old school conversion done by RORSA architects in the early 2000s.

It is located by the foot of Carrigaline Road, along a one-way route into Douglas village, within a few minutes’ walk of the two shopping centre, one with Tesco, Marks and Spencers, and TK Maxx as anchors, the other anchored by Dunnes Stores.

The property is in two related sections, with Montrose House a purpose-built, two storey office building, in open plan format, with about 2,000 sq ft per floor, plus link suite.

The adjoining Schoolhouse studio has c 4,500 sq ft over two levels, let to FRA Consult, trading as Reddy Architecture on a new ten-year lease from April 2016 at €37,500 pa.

Montrose House’s ground floor is let to Shipton Asset Management Ltd on a 10-year lease from 2013 at a rent of €23,800, with break options in 2018 and 2020, and the first floor is let to Screendragon Ltd on a five-year lease from April 2016, at €30,000 pa with a break option after two years.

Details: DTZ Sherry FitzGerald 021 4275454

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