THE HOME OF the Department of Justice has gone on sale for €20 million.
94 Stephen’s Green, which was originally the Centenary Church of Ireland, is being offered for sale through Savills, on behalf of the investment management group SW3 Capital.
It currently comprises a landmark office building with pillared listed façade and a modern office extension to the rear.
Also included in the sale is a townhouse next door, which fronts onto St Stephen’s Green. The residence can be used as a single home or three apartments.
Part of the original structure dates back as far as 1841, when the Centenary Church purchased the subject site for their Irish Headquarters. On Sunday 22 December 1968, the church burnt down, bringing to an end a 127-year association which the church had with the property on St Stephen’s Green. The site was subsequently sold.
Today, it makes up a 2,067 square metre building, but the agents say that it can be expanded.
The whole property, including the townhouse, is currently let to The Commissioners of Public Works in Ireland under two co-terminus leases, for which the State pays just over €1 million a year.
Those leases expire in June 2018.
Dessie Kilkenny of Savills said:
“This is certainly one of the most exciting asset management opportunities, in a truly prime district, to have ever been offered for sale in Ireland.
“The benefit of strong state income, coupled with the prospects of an upgrade project in the near future are extremely rare in this type of location.”
Savills says that the State may be interested in acquiring the building, given its long history at the site and its proximity to the Dáil.
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