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120-124

IDA Industrial Estate Waterford

Sold €1,100,000
Property Highlights
  • Let to Waterford Institute of Technology - lease expiry December 2025
  • Passing rent of €110,250 p.a. with fixed uplift to €115,762.50 p.a. in Years 9 & 10
  • Extending to approximately 2,734 sq. m / 29,430 sq. ft GEA
Property Location

The subject property is located in the IDA Industrial Estate Waterford, which is accessed off Cork Road. Waterford City is the country’s fifth most populous city in the Republic with a population of approx. 53,504 persons (Source: Census 2016).

The IDA Industrial Estate is adjacent to the Waterford Institute of Technology, close to the Whitfield Clinic and east of Waterford Retail Park. There are a number of established industrial and business locations in the immediate area including Westside Business Park and Cleaboy Business Park.

As well as circumnavigating Waterford city, the Outer Ring Road also links the N25/N11, providing onward access to Dublin and Wexford to the north east and east respectively and Cork to the west. Other occupiers in the industrial park include Nypro Healthcare, WorkLAB, Honeywell International Technologies Limited, Keltech, Waterford Enterprise Centre, Teva, Bausch & Lomb Ireland and Cartamundi Ireland Ltd to name a few.

Property Description

For Sale via Digital Auction (Offr) on the 25th May at 14:00 (unless withdrawn or sold prior)

The property comprises a substantial single storey warehouse building with ancillary office accommodation.

The unit is of concrete/steel portal frame with concrete block infill walls, incorporating a concrete floor throughout. On office/training area is provided to the front of the unit and comprises 2 x training rooms, stores, entrance lobby and WC Facilities. The rear warehouse is sub divided into two separate areas Lighting throughout the warehouse area is by means of hanging fluorescent lights. Goods access is provided by of an electrically operated roller shutter door.

The property has the benefit of ample surface car parking spaces to the front of the property.

Schedule of Accommodation

Area

SQ. M. (GEA)

SQ. FT. (GEA)

Warehouse

2,322.02

24,994

Office

412.11

4,436

Total

2,734.13

29,430

*All intending purchasers are advised to verify the accuracy of all floor areas.

Tenancy

The entire property is subject to a Full Repairing & Insuring lease in favour of Waterford Institute of Technology for a term of 10 years from 01.01. 2016 (lease expiry December 2025) at a current passing rent of €110,250 per annum exclusive of outgoings. The lease provides for a fixed uplift in the rent to €115,762.50 p.a. in Years 9 & 10 (2024 onwards).

Property Size/Area
2,734 sq. m (29,430 sq. ft)
Property Status
Sold
BER Details
Property Location
Documents
QRE Contact
Bryan Garry
Bryan Garry
MRICS MSCSI  

Director Investment

Bryan has over 13 years of experience in the Irish commercial property market. As Director of the In... View More

+353 83 391 8649

 

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