Dublin 4 business campus goes on the market for €185m

Business, Finance | Wed 23 Sep | Author – Business & Finance
Elmpark Urban Campus
Elmpark Urban Campus

DTZ Sherry FitzGerald and Savills have today formally announced the sale of Elmpark Urban Campus with a guide price in excess of €185m.

Located in the upper-class area of Dublin 4, the site is the largest urban campus in Dublin.

The sustainable mixed-use campus stands on over 17 acres of land and is a mix of offices, multi-family apartments, retail space, large terraced houses and leisure facilities.

Elmpark is the Irish headquarters for German insurance company Allianz since 2008.

More recently, multinational pharmaceutical company Novartis located to the campus.

The multi-family element currently provides income of approximately €3.8m per annum with potential to increase further.

DTZ Sherry FitzGerald and Savills say they expect considerable interest in the sale from both domestic and international investors. Fergus O’Farrell, director of joint agent Savills, commented: “The quality of the office space along with the volume of high-quality residential units on offer in a prime Dublin 4 address is unrivalled.”

Patricia Ward, director with DTZSF, added: “This sale represents an opportunity for investors to acquire the largest single mixed use scheme to be offered to the market in 2015.”