SUITE 206 Q HOUSE, SANDYFORD, DUBLIN 18

SUITE 206 Q HOUSE, SANDYFORD, DUBLIN 18

OFFICE INVESTMENT FOR SALE BY PRIVATE TREATY TENANT NOT AFFECTED

SUITE 206, Q HOUSE SANDYFORD, DUBLIN 18

EXECUTIVE SUMMARY

A prime suburban office investment

Situated in the centre of Sandyford Business District

Second floor office suite extending to approximately 251 sq.m. (2,700 sq.ft.)

Together with 6 x car parking spaces

Let to Olas Software Training & Development Limited

Lease expiry December 2023

Current passing rent of €82,000 per annum

Guide Price €1,050,000 (reflecting a net initial yield of 7.10% after standard purchaser’s costs of 9.96% and a capital value of €389 per sq.ft.)

For the avoidance of doubt please note that this is an investment sale and the tenant is not affected.

LOCATIONQ House is located on Furze Road adjacent to Beacon Court and in close proximity to the Beacon Hotel and a short walk to the Beacon South Quarter.

Sandyford Business Park is a highly successful and established business district in the heart of the South Dublin suburbs, approximately 9km from Dublin City Centre. The area is widely regarded as the premier suburban office location in Dublin.

Sandyford benefits from prime public transport links with its own Luas stop (5-minute walk) that takes passengers direct to St. Stephen’s Green within 25 minutes. It is also easily accessible by car, with the M50 Junction 13 interchange immediately to the south providing access to a host of national arterial routes and Dublin Airport in circa 30 minutes. In addition, there are numerous Dublin Bus routes that serve Sandyford which connect to the City Centre and surrounding suburbs, as well as an Aircoach link direct to Dublin Airport.

The location is characterised by several large-scale office developments such as Central Park, Beacon Court, Beacon South Quarter, The Atrium, The Chase and One South County. Many of the country’s largest office occupiers have chosen Sandyford as their preferred location due to its location and transport links. These occupiers include; Microsoft, Google, Salesforce, Bank of America, Bayer and Vodafone.

VIA VERDE

15VIA VERDE

15

STEPASIDE

SALLYNOGGIN

DEANSGRANGE

SandyfordIndustrial Park

CORNELSCOURT

FOXROCK

CARRICKMINES

LOUGHLINSTOWNThe ParkCarrickmines

The CarrickminesGolf Club

CABINTEELY

SANDYFORD

LeopardstownGolf Centre

StepasideGolf Course

CabinteelyPark

StillorganIndustrial Park

13EXIT

14EXITM50

M50

M50

N11

N11

N11

Balally

Kilmacud

Carrickmines

Laughanstown

Cherrywood

Central Park

Glencairn

The Gallops

BallyoganWood

LeopardstownValley

15EXIT

Stillorgan

Sandyford

DUNDRUMTOWN

CENTRE

Aircoach

M50 Motorway Luas - Green Line Line N11

Dublin Bus

TRANSPORT LINKS

NB. For identification purposes only

Q House


AMENITIESSandyford is well served by a host of retail and leisure facilities, with numerous amenities located nearby, including;

RESTAURANTS /EATERIESLa Dolce Vita Baan Thai China Sichuan Mango Tree Michie Sushi Chopped Woodfire & Green

CAFESBaristas Café Brambles Deli Café Café Bliss Café Togo Insomnia Starbucks

GYMSBen Dunne Gyms F45 West Wood Club Raw Gyms

CHILDCAREGiraffe Childcare Park Academy

Beacon Hospital & Hotel

Q House

M50

Dundrum Town Centre


Green Luas line


DESCRIPTIONDesigned by architects Duffy Mitchell O’Donoghue, Q House is a development of high-quality own door office units. The total development is

approximately 9,200 sq.m. (100,000 sq.ft.) and is contained in a six-storey building designed around a central landscaped courtyard. The building incorporates sharp architectural design and includes large elements of glass and natural stone which combine to create a striking modern building. The development also allows for a generous entrance, manned reception and large common lift lobbies on all floors.

Suite 206 is situated on the second floor and extends to approximately 251 sq.m. (2,700 sq.ft.) on a gross internal basis. The unit has been fitted out to a high standard by the tenant and benefits from sweeping views over Dublin Bay.

• Raised access floors (wired for power and data)

• Suspended ceilings with recessed light fittings

• Air Conditioning

• Gas Fired Central Heating

• Reception

• Board room

• 2 x meeting rooms

• 4 x cellular offices

• Kitchenette / canteen

• Comms room.


TENANCYThe subject property is let in its entirety to Olas Software Training & Development Limited t/a Olas with lease expiry in December 2023 under an effective FRI lease. Olas originally entered into a 5-year lease commencing December 2013 and subsequently a deed of variation was agreed extending the term by an additional five years. The contracted rent (which is being discharged in full) is €82,000 per annum. Six car parking spaces are demised to the unit.

COVENANT

OLAS SOFTWARE TRAINING & DEVELOPMENT LIMITED HAS A VISION NET RATING OF 93/100

Olas is Ireland’s only SAP Education Partner and SAP Business Objects Education Partner. Olas is the first port of call for official training SAP project teams. Assima PLC (parent company) is, a global technology & services company specialising in increasing the performance and productivity of users of large enterprise systems.

Source: www.olas.ie


FLOOR PLAN



TITLETitle to the property is held by Long Leasehold.

GUIDE PRICEGuiding €1,050,000. Pricing at this level would reflect a net initial yield of 7.10% after standard purchaser’s costs of 9.96% and a capital value of approximately €389 per sq. ft.

VATPlease refer to agent.

BER

BER no.: 800021842 EPI: 302.92 kWh/m²/yr0.91

VIEWINGSAll viewings are strictly by appointment through the sole selling agent QRE Real Estate Advisors.

SOLICITORByrne Wallace 88 Harcourt Street, Dublin 2, D02 DK18 Contact: Ms. Sheena Beale

AGENT DETAILSQRE Real Estate Advisers

Bryan Garry MRICS MSCSI E: [email protected] M: +353 (0) 83 3918 649

Conor Whelan MRICS MSCSI E: [email protected] M: +353 (0) 86 777 8808

qre.ie

PSRA Registration No. 003587

The agents on their own behalf and on behalf of the vendor/lessor of this property, give notice that: (a) these particulars do not constitute in whole or in part an offer or contract for sale or lease; (b) none of the statements contained in these particulars as to the property are to be relied on as statements or representations of fact; and (c) the vendor/lessor does not make or give, and neither the agents nor any of its members or any person in its employment has any authority to make or give, any representation or warranty whatsoever in relation to the property. The only representations, warranties, undertakings and contractual obligations to be given or undertaken by the vendor/lessor are those contained and expressly referred to in the written contract for sale or agreement for lease between the vendor/lessor and a purchaser or tenant. Prospective purchasers or tenants are strongly advised to: (a) satisfy themselves as to the correctness of each statement contained in these particulars; (b) inspect the property and the neighbouring area; (c) ensure that any items expressed to be included are available and in working order; (d) arrange a full structural (and where appropriate environmental) survey of the property; and (e) carry out all necessary searches and enquiries. Any representation including descriptions, dimensions, references to condition, permissions or licenses for uses or occupation, access and any other details are given in good faith and are believed to be correct, but any intending purchaser or tenant should not rely on them as statements or representations of fact but must satisfy themselves (at their own expense) as to their correctness.


Documents

SUITE 206 Q HOUSE, SANDYFORD, DUBLIN 18