Block P2 East Point Business Park, Dublin 3
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High Quality Office Investment in the Heart of Dublin’s Docklands
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Schedule of Accommodation
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The floor areas were independently measured. The floor areas are:
| Floor |
IPMS2 SQ.M
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IPMS2 SQ.Ft
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GIA SQ.M |
GIA SQ.FT |
| Ground |
1,240.63
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13,354
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1,222.90
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13,163
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| First |
1,123.10 |
12,089 |
1,119 |
12,045 |
| Second |
1,129.70 |
12,160 |
1,124.70 |
12,106 |
| Third |
1,126.63 |
12,127 |
1,119.70 |
12,052 |
| Total |
4,620.07 |
49,730 |
4,586.30 |
49,366 |
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Block P2 is let to Virgin Media Ireland Ltd. under a 25 year FRI lease from 5th December 2000. The lease is guaranteed by UPC Broadband Ireland Ltd. The current passing rent is €1,247,000 pa (approx €23.25 per sq.ft and €1,400 per car space).
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Virgin Media is Ireland’s leading digital pioneer and innovator. Owned by Liberty Global, the company has invested over €1 billion in Ireland over the past decade.
The lease terms are guaranteed by Virgin Media’s parent, VMIE Group Holdings Limited (previously UPC Broadband Ireland). VMIE Group Holdings has a Dun & Bradstreet rating of 5A3 based on a tangible net worth of €842 million as at 25/06/2021. The ultimate parent company, Liberty Global plc. is the world’s largest international cable company.
Together Virgin Media and Liberty Global serve 27 million customers across 14 countries.
Tenure
The property is for sale by way of a long leasehold.
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