Office property sold for €916k at auction

By Aideen O'Flaherty

AN office property known as Knockmitten House, on Knockmitten Lane in Walkinstown, sold for €916k at an online auction last week.

The property attracted 25 bids, which saw the price for property soar well over the initial guide price of €650k.

HK 04 1

Knockmitten House sold for €916,000

The three-storey property is described as “a substantial office block” and it is currently let to H&K International with a current rent of €65k per annum.

The property is arranged over ground and two upper floors and surrounding occupiers include Centrepoint Business Park, DHL Supply Chain and Nolan Kitchens.

The total floor area of the property extends to approximately 852sq.m and it has a net initial yield of 9.09 per cent.

According to the handling auctioneer, the property is in a “prime office and logistics location”, and it benefits from strong transport links including the nearby M50, Red Line Luas and numerous bus routes.

The property was put up for online auction on November 11.

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