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11a Coolmine Industrial Estate

Dublin 15

For Sale
Guide Price: €1,000,000
Property Highlights
A High Yielding Industrial Investment
Extending to Approximately 980.6 sq.m. or 10,554 sq.ft
Warehouse Let to TSC Developments Ltd T/A 'Go Kids Go'
Lease Expiry 2029
Additional Rental Potential via Rooftop Licence
Current Rent Passing €99,000 p.a
Guide Price €1,000,000
Property Location

The property is situated off Porters Road to the Blanchardstown Road side of Coolmine Industrial Estate.  The property is well-located for all major transport hubs, with easy access to the M50, Dublin Port Tunnel and Dublin Airport. The immediate surrounds of the property provide a hive of activity, with a significant populace residing in close proximity to the estate.

Property Description

This property comprises an end of terrace industrial unit extending to approximately 980.6 sq.m. (10,554 sq.ft.) incorporating an eaves height of approx. 7m. The entire is of concrete frame construction with shared car spaces to the front and side of the property. Internally, the property provides a children's play centre, arranged over ground, first, and mezzanine floors. 

 

The property provides the following approximate measurements: 

Unit 11a  Sq. m Sq. ft.

Ground floor

500.10

5,383

First floor

50.40

542

Mezzanine

430.10

4,629

Lease Terms

The entire property is let to TSC Developments Ltd T/A 'Go Kids Go' under a 20-year term from April 2009, with a stepped rent moving from €90,000 p.a. to €115,000 p.a.x (year 4). We understand that the middle step of €99,000 p.a. has been maintained since 2011, and is the current rent passing. The lease provides for effective FRI terms, upward only rent reviews every five years, and breaks in years 5 & 10 (expired). 

 

Additional Rooftop Income Potential 

The Vendors are in receipt of €15,000 p.a. pursuant to a Licence Agreement with Meteor Mobile Communications Limited in respect of a mobile communications mast situated on the roof of the property. A direct agreement would need to be put in place between the purchaser of the property and Meteor in respect of the continuance of this licensing arrangement. Post-Contract signing, the purchaser will have the opportunity to engage with Meteor on the matter. In the absence of the consent of Meteor, the benefit of the Licence Agreement and any income arising therefrom will not form part of the sale. 

Property Size/Area
10,554 sq.ft
Property Status
For Sale
VAT
Refer to selling agent
Energy Performance Indicator
344.87 kWh/m²/yr 0.82kWh/m²/yr
BER Number
800834871
BER Grade
Documents

QRE Contact

Bryan Garry MRICS MSCSI
Director – Investment & Agency
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