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SW3 expands Dublin portfolio with two new office buildings

London-based SW3 Capital has added two more Dublin office investments to its portfolio. It has bought Dublin Business School (DBS) on Aungier Street, South Great George’s Street, for €10 million and another office investment, J5 Plaza at North Park on the North Road in Dublin 11, for €5.6 million.

SW3 will get an initial return of 8.6% on the J5 Plaza office building which extends to 5,834 sq.m (62,796 sq.ft). The selling price will reflect a capital value of €1,184 per sq.m (€110 per sq.ft). The HSE contributes more than three-quarters of the rent which is €520,000 per annum. The other tenants include the Special Olympics, engineering consultants Fehily Timoney and Kavanagh Accountants.

David Carroll, of Bannon handled the negotiations for the vendor.

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