QRE Real Estate Advisers has just launched to the market a single let warehouse investment for sale at the Sunshine Industrial Estate in Crumlin in Dublin 12, for which it is guiding €800,000.
This well-established industrial estate is positioned off the Crumlin Road, backing on to the Brickfield House development scheme comprising 282 apartments alongside ancillary commercial amenities.
It is positioned about 3 kilometres from Dublin city centre and about 4.5 kilometres from the M50, making it an ideal last mile distribution location, given its access to the city centre and all other major arterial routes.
Unit 14 extends to about 778 square metres, excluding a substantial first-floor mezzanine.
The property is single let to AP Haslam Limited for a term of 20 years from January 1, 2013, at an annual rent of €85,000 per annum. The lease provides for full repairing and insuring covenants and provides for open market rent reviews. In the normal manner, this is an investment sale, and the existing tenants are not affected.
The subject property benefits from Z10 Zoning as per the latest Dublin City Development Plan. The primary uses within this zoning provide for the development of inner-city sites for mixed use, with a focus on relatively intensive residential, office and retail-led development.
Jonathan Donnelly of QRE said: “The guide price of €800,000 reflects an attractive capital value of approximately €95 per square foot and a net initial yield of 9.66 per cent after allowing for standard purchaser’s costs of 9.96 per cent.”
Contact Jonathan Donnelly or Bryan Garry of QRE Real Estate Advisers for more details at 01-6375555.