90-91 St. Stephen’s Green, Dublin 2

Unique redevelopment opportunity on the Green

• Guiding €18m which reflects a current net initial yield of 5.56% and a capital value of €677 per sq. ft.
• 4 storey over basement Georgian building with modern office extension, approx. 26,590 sq. ft. NIA.
• Located on the southside of St. Stephen’s Green with a site area of approx. 0.32 acres.
• Occupied by Standard Life with a passing rent of €1.1m p.a.
• The property benefits from in-situ income until lease expiry in September 2024, which offers short/medium term repositioning and redevelopment prospects.
• RKD feasibility study carried out to assess various redevelopment plays.

CBRE have brought 90-91 St. Stephen’s Green to the market by way of private treaty at a guide price of €18,000,000 reflecting a net initial yield of 5.56% and a capital value per sq. ft. of €677. An investor will receive in-situ income from Standard Life prior to their lease expiry in September 2024, at which point an investor may secure vacant possession. In the short term, the investment offers flexibility of approach for an investor, with asset management, refurbishment, and re-positioning options available. 

90-91 St. Stephen’s Green comprises a landmark four storey over basement office building extending to approx. 2,470 sq. m. (26,590 sq. ft.) with 25 basement car spaces. The property enjoys extensive views of St. Stephen’s Green to the front and the Iveagh Gardens to the rear.

St. Stephen's Green is Dublin’s most prestigious square and is considered the heart of Dublin city. There is an abundance of amenities on the doorstep including hotels, restaurants, cafes, shopping, culture and entertainment venues.

The building is fully let to Standard Life on a 10-year FRI lease from 15^th September 2011. The tenant extended their lease to September 2024 and the current passing rent is €1,100,000 per annum which breaks back to €41 per sq. ft.

Will Heffernan and Rob Mulcair, CBRE Ireland, commented; ‘The sale of 90-91 St. Stephen’s Green presents an exceptional and rare opportunity to invest in and put one’s own stamp on the best address in the city overlooking St. Stephen’s Green Park.’