Excellent Investment And Owner Occupier Opportunities At Dublin Airport Business Park
Dublin, 20th July 2016 – CBRE have been instructed to sell 2 modern industrial units at Airport Business Park in Cloghran, Co. Dublin. One of the properties is leased while the other is being sold with vacant possession. The units are being offered for sale by private treaty in one or more lots, with a combined guide price of €1,650,000 exclusive.
The properties are situated directly adjacent to Dublin Airport, and have immediate access to the M50, the M1 and the Dublin Port Tunnel.
Unit B2 comprises a detached industrial / distribution facility extending to approx. 1,572 sq m (16,921 sq ft) including approx. 237 sq m (2,551 sq ft) of two-storey office accommodation. The property occupies a high profile corner site within the park and benefits from yard area and car parking. The property is currently let to Killick Aerospace Limited on a 10 year lease from 1st May 2012 at a rent of €110,000 p.a. inclusive of rates and service charge. The net rent for 2016 is approx. €77,752 exclusive. There are tenant break options in years 5 and 8. The guide price for this property is €1,200,000 exclusive, which equates to a net initial yield of 6.20% (based on the 2016 net rent). The tenant is not affected.
Unit B4 (C) comprises a mid-terraced industrial / business unit extending to approx. 630 sq m (6,782 sq ft) including approx. 124 sq m (1,335 sq ft) of two-storey office accommodation. The building is of concrete portal frame construction with a clear internal height of approx. 6.2 metres. The unit is currently vacant. The guide price for this property is €450,000 exclusive.
Jarlath Lynn of CBRE commented that he anticipates very strong interest in the properties given the prime location of the business park.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
In Ireland, with offices in Dublin and Belfast, CBRE is the country’s largest commercial real estate services company, now employing over 165 employees and offering a full range of property services including property sales and acquisitions, leasing and management, investment, corporate services, debt advisory, project management, consultancy, business rates and compulsory purchase, valuations and research. Please visit our website at www.cbre.ie or www.cbre.ie/ni.