Commercial Property briefs: City Square sold for €21m

Sandyford retail unit guiding €550,000

31st January, 2016
City Square on Marlborough Street, Dublin 1

City Square, the seven-storey over basement office building at 61-64 Marlborough Street in Dublin 1, has been sold for about €21 million, some €3 million above the guide price quoted by joint agents Finnegan Menton and DTZ Sherry FitzGerald.

It has not been confirmed who the purchaser is, but it is understood to be an Irish general insurance company.

The net initial yield to the new purchaser will be in the region of about 5.9 per cent.

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