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9 Finglas Business Centre, Finglas, Dublin 11

QRE Real Estate Advisers have brought Unit 9 Finglas Business Centre to the market for sale by way of online auction through Offr.

The subject property comprises a well-located industrial investment, comprising a mid-terraced warehouse facility with the benefit of a newly signed lease. The unit extends to approximately 464 sq. m (4,997 sq. ft) on a gross external area basis. There is a further 116 sq. m (1,249 sq. ft) of office accommodation / showroom space within the unit, over the ground and first floors.

There is one electric roller shutter in the warehouse which extends to approximately 3.14m (w) x 3.83m (h). The clear internal height is approximately 7 meters.

The property is located within Finglas Business Centre on Jamestown Road, approximately

1.5 km north of Finglas Village and approximately 8kms north of Dublin City Centre.

Finglas Business Centre is strategically located approximately 2kms south of Junction 5 of the M50 motorway which provides rapid motorway access to Dublin Airport, the Port Tunnel, and all main arterial routes from the city.

Unit 9 was recently let to Latsia Limited T/A Elegant John Bathrooms on a 15-year FRI lease from the 1st of July 2022. The passing rent is €42,500 per annum (approximately €8.50 per sq. ft) and is to be reviewed to market rent at the expiry of year 5. There is a tenant only break-option in years 5 & 10 subject to nine months’ notice in advance. The tenant is not affected by the sale.

The guide price of €550,000 represents a strong NIY (Net Initial Yield) of approximately 7% and an attractive capital value of €110 per sq. ft.

Harry Byrne of QRE comments that “with secondary industrial yields in Dublin averaging approximately 5.5% to 6%, the yield along with the reversionary potential of this property should appeal to a diverse range of investors.”

The legal pack can be viewed prior to the auction via the QRE website.

written by QRE

December 2022