Exceptional Industrial Investment Opportunity
Long Term Investment opportunity Magna Business Park
DUBLIN, 28th November 2018 – CBRE announced today that they are launching the sale of an attractive investment opportunity comprising of a single tenanted warehouse and office to the market for sale by private treaty. The property is located in Magna Business Park which provides access to both the N7 (Naas Road) and the N81 (Blessington Road). CBRE are understood to be quoting a price of €3,750,000 for the property, which equates a net initial yield of 6.13%.
Magna Business Park which was developed in the early 2000’s by Davy Hickey, is a high quality business park which has the benefit of mature landscaping and well managed common areas. Citywest Shopping Centre is situated nearby. The subject property is prominently located off the northern side of Magna Drive overlooking an internal estate roundabout and with separate access points to the office parking areas to the front and the rear loading yard
The property comprises a detached industrial unit with single storey warehouse and integral, two storey, L-shaped office accommodation along the front and side elevations. The building, which extends to approx. 31,620 sq ft (2,937.6 sq m) is of traditional steel framed construction with a pitched, double skin insulated metal deck roof. The property is currently occupied by O’Briens Ingredients and is producing a rent of €240,000 p.a. with over 7 years left to run on the lease.
The industrial and logistics market has been performing strongly for the last 12-18 months and this is expected to continue with Dublin prime rents continuing to rise due to the lack of supply.
This type of investment will be attractive to an investor who is seeking to take advantage of the resurgence in the industrial market and is looking to take a foothold in one of Dublin’s premier industrial locations. The long term to a good covenant will also be attractive to parties.
CBRE Group, Inc. (NYSE:CBRE), 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 2017 revenue). The company has more than 80,000 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.
CBRE U.C., (CBRE Ireland) registered in Ireland, no. 316570. PSRA Licence No. 001528 is the country’s largest commercial real estate services company with offices in Dublin and Cork. Currently employing over 150 employees, we work with occupiers, investors and developers of office, industrial and logistics, retail, hotel and healthcare property, providing strategic advice and execution for property sales and leasing; tenant representation, corporate services; property and project management; appraisal and valuation; development services; investment management and debt advisory; business rates and compulsory purchase and research and consulting. Please visit our website at www.cbre.ie