On the instructions of joint receivers Ken Fennell and Brendan O’Reilly of Interpath, Savills has today launched The Ballsbridge Collection to the market. This comprises two adjacent, standalone office buildings, 23 Shelbourne Road and Shelbourne House, positioned in the heart of Ballsbridge, one of Dublin’s most prestigious business and residential districts.
Extending to a combined 88,000 sq ft on a 1.2-acre site, the properties offer a compelling blend of immediate rental income from strong tenants and a myriad of opportunities for asset management or repositioning. The assets are being offered for sale by private treaty, either in one or more lots.
23 Shelbourne Road is a six-storey building extending to 25,329 sq ft and is currently multi-let to seven tenants, producing an annual rent roll of €1.06 million. The building was refurbished in 2016 and offers high-quality office accommodation arranged in suites ranging from 1,400 to 5,400 sq ft, an offering uniquely aligned to current occupier demand in Dublin 4. One floor remains vacant, while the occupied accommodation provides a WAULT of c. 1.65 years to break and c.3.65 years to expiry. A recent BER pathway report outlines a cost-effective route to improving the building’s current C1 rating to a rating of A3.
Shelbourne House, a seven-storey building extending to 62,903 sq ft, benefits from a strong tenant line-up including the Office of Public Works (OPW) and the Malaysian Embassy and generates €2.01 million in annual income on a short-term basis. With a number of vacant floors, Shelbourne House offers buyers extensive options for asset management, refurbishment or repositioning, subject to planning permission.
Located on Shelbourne Road, just minutes from the city centre, DART stations and Dublin’s leading cultural and sporting venues, the properties offer exceptional connectivity and a wealth of local amenities. The area is home to top-tier occupiers including Meta, Avolon, and BlackRock, reinforcing its profile as Dublin’s premier office address.
RKD Architects have prepared feasibility studies that explore several future scenarios, including refurbishment and extension, partial redevelopment, and wholesale redevelopment of the entire site. Options include uses such as residential, hotel, student accommodation and office, all permitted or open for consideration under the Z1 zoning.
Importantly, the opportunity aligns with sustainable development principles, with options to reuse existing structures and reduce embodied carbon emissions, particularly in the case of Shelbourne House.