Ossory Court, 24 Ossory Road, D03 X271
Dublin 3
Sold
Guide Price €995,000
Property Highlights
- For Sale by Online Auction via Offr on 7th December
- Multi-Unit Industrial Investment
- Residential Development Opportunity (S.P.P.)
- Lands Zoned Z1 'Sustainable Residential Neighbourhoods'
- 25 Warehouse / Enterprise Units
- Extending to approximately 2,290 sq. m. (24,650 sq. ft.)
- Total passing rent of €143,440 per annum
- Guide Price €995,000 ex VAT
- Net Initial Yield of approximately 13.11% (after standard purchaser costs of 9.96%)
- Capital value of approximately €40 per sq. ft. (significantly below replacement cost)
- Strong reversionary potential through leasing of the vacant units (8)
- Tenants Not Affected
Property Location
Situated at the western periphery of East Wall, Ossory Court enjoys excellent positioning within this vibrant and dynamic neighbourhood, positioned just north of the City Centre. East Point Business Park, The IFSC, Grand Canal Dock and Dublin's Docklands are each within a 10 minute walk. Notably, recent enhancements to the area's amenities include the welcome additions of Aldi, Lidl, and Starbucks, all of which have established a presence in recent years. The strategic proximity of significant transportation arteries including the Port Tunnel, East Link toll bridge, bus corridors, and Clontarf DART station, further enhances the advantageous positioning of the subject property.
Property Description
Ossory Court is a self-contained, secure industrial estate accessed from Ossory Road, Dublin 3. There is an automatic GSM electric gate to the front, providing tenants access to the park 24/7. The property consists of a diverse arrangement of 8 railway arch units situated beneath an active railway line, accompanied by 17 industrial units of block construction, featuring a combination of asbestos and metal deck roofing. The units are designed with double-height ceilings, incorporating a mezzanine level within each unit to optimise the available space. There is undesignated parking throughout the industrial park for the exclusive use of the tenants.
Lease Terms
Total passing rent of approximately €143,440 per annum.
Of the 25 units included in the sale, 8 are available with the benefit of vacant possession, providing an incoming investor with the ability to significantly grow overall rental income.
Please contact QRE for full tenancy information.
Land Use Zoning
The subject lands benefit from Z1 Land Use Zoning within the Dublin City Development Plan 2022-303 (Sustainable Residential Neighbourhoods), 'To protect, provide and improve residential amenities.'
Permissible Uses & Open for Consideration uses include;
Residential, Build to Rent Residential, Hostel, Hotel, Office and Student Accommodation amongst others.
Title
Please refer to agent.
VAT
Please refer to agent.
Property Size/Area
Approximately 2,290 sq. m. (24,650 sq. ft.)Property Status
SoldBER Details
Property Location
Documents
QRE Contact
Jonathan Donnelly
Surveyor
Jonathan joined QRE in 2021, after graduating from Technological University Dublin with a BSc (Hons)... View More
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