The Boylesports Headquarters in Dundalk, which sold this morning for €1,875,000
The Boylesports Headquarters in Finnabair Business and Technology Park on the Inner Relief Road sold at auction this morning for €1,875,000.
The office building, which extends to approximately 1,610.33sqm (17,333sq ft), was auctioned off at the Allsop Space auction in the RDS.
The identity of the buyer is not known although Boylesports owner John Boyle was believed to be amongst those interested in the building.
There were multiple bidders for the property, with interest slow initially before finally getting off the ground at the reserve of €1.45m.
The building is currently let to Boyle Bookmakers Ltd – trading as Boylesports – who have a lease running until August 2018.
Their current rental agreement is for a 15 year period at a rent of €250,000, exclusive of VAT and rates. The lease provides full repairing and insuring convenants and upwards only rent reviews every five years.
Considering the rent they are paying on the building, Boylesports – who have 192 branches nationwide – were expected to be involved in the bidding process.
Last year the company revealed plans to cut its rent bill and owner John Boyle would certainly have the capital with last year’s Sunday Times Rich List estimating him to have a €51m fortune – making him the joint 195thrichest man in the country.
According to Allsop Space: “The property is arranged over ground and first floors to provide a detached modern office headquarters. The offices are set across two wings either side of a central glazed atria.”
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