We are property developers and investors identifying macroeconomic trends to target undervalued assets in overlooked areas.

52 BROOMHILL ROAD | TALLAGHT

 
 

STRATEGY

  • Building 50%+ vacant at time of purchase. Poor asset management from previous owners had left the property ‘off the map’ for prospective tenants and their agents.

  • Reposition building through refurbishment to common areas and vacant floors and position as a premium office building in Tallaght.. Work to include:
    - Refurbishment of reception, toilet cores and lift lobbies.
    - Re-design of building entrance and exterior parking, including the additional of e-charge stations.
    - Creation of end of trip facility for cyclists, including bike store, shower + changing rooms and drying rooms.

  • Following the completion of this work, building will be re-launched to the Dublin commercial agents. Building refurbishment and reposition will also support strong rent reviews of current tenants.

  • Rely on re-emergence of Tallaght as a desirable location for companies to have a presence in.

 

FACTSHEET

71,345
GSF

€6,900,000
PURCHASE PRICE

 

Capital Stack
Bond

Team
Blackbee
McCann Fitzgerald
Mathesons
21 Spaces
JCI

Location
Tallaght

Date Acquired
August 2019

Website
www.52broom.com

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GALLERY

 

 

PROJECT UPDATES

SEPT 2019

  • JCI strip-out of 2nd & 1st floor commences.

OCT 2019

  • Emma Murphy of HWBC & Deborah Mahon of Lisney appointed as Joint Agents.

  • Climate Media selected a creative agency for 52 Broom.

NOV 2019

  • Update Daft.ie ads live. Daft #1 Daft #2

  • Strip-out of 2nd & 1st floor complete

DEC 2019

  • 2nd floor bathroom refurbishment commences.

JAN 2020

  • 2nd floor w/c refurbishment complete.

  • Reception refurbishment commences.

FEB 2020

  • 21 Spaces exterior concept complete. PDF + Color Version PDF

  • HoT with OPW for additional 12 car spaces.

MAR 2020

  • Reception refurbishment 90% complete - the balance of the works will be completed as soon as Government restrictions allow a resumption of construction activity.

  • Other refurbishment / up grade works complete which allows a repositioning of the building.

  • The number of enquiries gained momentum prior to the introduction of Government restrictions - this has stalled. 

  • Marketing process will continue as far as possible, with the intention that the building will be well positioned when restrictions are lifted .

    • E-Zine complete - PDF

    • Building banners to be erected when Government restrictions are lifted.

  • Immediate COVID 19 impact: SIGNIFICANT

    • No impact on passing rental income.

    • Reception improvement works 90% complete. Construction stalled until restrictions are lifted.  

    • A relaunch event for Dublin office agents, scheduled for late April / early May, now postponed.

    • Banners designed but not erected.

APR / MAY / JUN / JULY / AUG 2020

  • 1st building to launch to during COVID-19 lockdown.

  • 26 individual agent tours over lockdown. Pursuing various potential tentants.

  • Website launched: 52Broom.com

  • Building banners installed