Part of Dublin's Golden Mile goes on sale for €168m

Fitzwilliam 28 is situated in the central business district of Dublin 2 and will form part of the historic Georgian Mile.

One of Dublin’s most distinctive office buildings has been placed on the market with a guide price of €168m.

The sale of Fitzwilliam 28, which is leased to tech multinational Slack is being handled by Savills Ireland and Bannon on behalf of ESB Commercial Properties Limited. The office is expected to attract strong interest from international investors.

Fitzwilliam 28 is situated in the central business district of Dublin 2. The building will form part of the historic Georgian Mile and will comprise 12,599.2 sq m of office space over eight floors with 50 car parking spaces. The development is expected to be completed in the second quarter of this year.

Slack Technologies have taken a new long-term lease of the entire building from practical completion.

The rent roll will be in excess of €7.7m per annum, reflecting an initial yield of approximately 4.2%. Colliers International represented Slack Inc in the recent letting while Savills Ireland and Bannon represented the Landlord.

The building is one of two adjoining but independent blocks both developed by the ESB. The sister block to 28, Fitzwilliam 27 will be owner-occupied by ESB. Other occupiers in the immediate area include Department of Health, Shire, LinkedIn, Google and Stripe.

Fergus O’Farrell, DIRECTOR, Savills Investment, Ireland commented: “Interest remains strong in the office sector. Dublin’s strong occupier market and economy, coupled with the quality of this asset and its CBD location, will attract interest from global investors in Fitzwilliam 28”

Rod Nowlan, Investment Director of Bannon commented: As proven by recent lettings to the likes of LinkedIn, Twitter and Stripe, modern offices of scale situated in the traditional city core represent the focus of the current and likely future wave of occupiers. This reflects an increased emphasis by companies on “employee experience”, and there are few modern buildings that can deliver on this aspiration more than Fitzwilliam 28.