52 Broom, Broomhill Road, Tallaght, Dublin 24, is a high-quality office building to the north of Tallaght town, developed in 2001.
52 Broom, Broomhill Road, is a high-quality office building to the north of Tallaght town centre and 9km southwest of Dublin City Centre. 52 Broom comprises circa 50,000 net sq ft and is situated on approximately 1.34 acres. The building contains basement stores with secure basement car parking comprimising 59 spaces, and a further spaces 124 spaces above ground. The building comprises 4 storeys, fully fitted with air-conditioning and two 8 passenger lifts. The site is landscaped and provides road frontage on two adjoining sides. Tallaght, with a population of over 100,000, is the administrative centre of South County Dublin.
The town has strong public transport links, including access to the red Luas line and numerous Dublin Bus routes, while also being close to the M50 motorway, the N7 Naas Road and N81 Tallaght bypass. Tallaght is a big residential area in Dublin with a strong workforce and large residential developments planned in close proximity to each other. Access to hospitals, third level institutions and a large retail centre makes Tallaght an attractive town for Dublin commuters.
Investment Start Date: August 2019
Target Exit Date: August 2021
Investment Size: €8.4 million
Asset Managers: RQTwo
Since acquisition of the building in August 2019, RQTwo has
Risk to current rental income from Covid-19 is low as both sitting tenants are government-funded agencies. Marketing relaunch and refurbishment completion will progress quickly when restrictions are lifted which will greatly assist in improving the desirability of the building. The overall impact of Covid-19 on business sentiment is unclear at this point, however it is possible that it will cause some delay to securing new tenancies for the vacant space. This will be monitored carefully with RQTwo.