Agents QRE are seeking €1.1m for an industrial investment at Ballymount Cross Industrial Estate in Dublin 24.
The building comes to the market with the benefit of a 10 year FRI lease from January 2010 at an annual rent of €100,000 per annum. The lease also incorporates a tenant break option at the end of year five, which has passed. The tenant Tocana Limited specialise in the design, development and manufacture of electrical and electronic insulation solutions.
The property is a modern detached warehouse facility which extends to approximately 1,329 sq.m. (14,308 sq.ft.), which includes approximately 311 sq.m. (3,352 sq.ft.) of office accommodation. There is a clear internal height of approximately 8 metres and loading access is via two automated roller shutter doors, whilst the property also benefits from a metal deck mezzanine level providing a further 335 sq.m. (3,608 sq.ft.) of storage accommodation. An enclosed yard to the front with ample staff car parking is also included within the demise.
Ballymount Cross Industrial Estate is located approximately 9.6km west of Dublin City Centre.
The estate itself can be accessed via the Ballymount Road Lower which is only 0.4km from the Walkinstown Roundabout and approximately 0.8km from the M50 Ballymount Interchange.
The proximity to the M50 makes for easy and rapid access to all arterial routes including the N7.
At the guide price, the investment shows a net initial yield of 8.7% and Bryan Garry of QRE believes that the prime location of the property together with the term certain income on offer will ‘be of interest to domestic and international investors alike seeking to avail anticipated yield compression in the industrial market’.
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