Dublin property group Marlet and M&G Investments has hired estate agent CBRE to sell a new office block development on the site of the former An Post sorting depot in Dublin's South Docklands.
The Sorting Office will be more than 200,000 sq feet, with office accommodation split over eight levels, and it will include room for 26 cars and 318 bicycles.
The building will go on the market for more than €152m, which equates to around €750 per square foot on the basis of vacant possession.
CBRE said that is likely that a number of pre-lets will be agreed before the sale is completed, which would drive the price higher.
Construction of the site is expected to be completed in the third quarter of 2019.
The sale would represent a considerable return for Marlet and M&G, as it acquired the site from An Post in 2015 for around €40m.
Marlet Property Group is a Dublin based property development company founded by Pat Crean, which focuses on commercial and residential opportunities in the Dublin area.
The company agreed a funding deal with M&G Investments in 2014, which has seen total investment of over €500m.
