Dublin 2 offices offer variety of prospects
Montague Court extends to about 27,000 sqft on three floorsAn office investment with redevelopment potential located close to St Stephen’s Green in Dublin has come to the market with a €13m guide price. Known as Montague Court, it is located on Montague Street which links Harcourt and Camden streets.It extends to about 27,000 sqft on three floors over double-height reception with car parking at ground level. There is also a small mews building on the grounds.Fully let, it produces a rental income of around €1.25m from three tenants: Department of Children, Equality, Disability, Integration and Youth; Legal Aid Board; and Romeril Forensic Engineers. All leases are set to expire on May 31, 2025.Feasibility studies by RKD Architects have identified how the 0.389-acre property could be redeveloped for an eight-storey over-basement offices of about 103,000 sqft; a 133-bedroom hotel or a 154-unit student accommodation block. RKD also looked at refurbishment and extension options. Selling agents HWBC point out that the site’s zoning would also permit a wide range of uses including medical and related consultants, and a tourist hostel.Formerly known as Bell House, Montague Court was originally developed by Hardwicke and is now over 50 years old and is materially underdeveloped reflecting its age. The building has already been refurbished around the turn of the century. However, it no longer meets contemporary office occupier requirements in particular from a sustainability and energy efficiency perspective.
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