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18 November 2017
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Savills brings to market Dublin office bloc for €25,5M

06 November 17 - RE+D Magazine
Savills brings to market Dublin office bloc for €25,5M

COMPANIES

Solum Property Solutions

Consultant - GREECE

ETAD.A.E.

Public entity - GREECE

Savills

Consultant - GREECE

IBI Group

Consultant - GREECE

PEOPLE

Antulio Richetta

Director IBI Group
The new HQ of international technology company, New Relic has been brought to the market by Savills at a guide price in excess of €25.5 million – reflecting a net initial yield of 5.26% and a capital value in the region of €825 per sq. ft.

 

The property at 31-36 Golden Lane, which is currently being significantly refurbished internally to provide for a modern office building, is expected to be of interest to investor groups seeking secure long income investments.

New Relic International has agreed a 20-year lease on the entire at a rent of €1.455m per annum with a break option at the end of year 10 subject to a 3 month rental penalty.

The lease commencement will coincide with the practical completion date of December 2017.

New Relic is a leading global digital cloud-based analytics, intelligence and information technology company founded in San Francisco in 2008.

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