Investment & Owner Occupier Opportunities at Pullamore Business Park
Dublin, 14th June 2017 – Joint agents CBRE and Crotty Auctioneers will be bringing a collection of three commercial properties located in Pullamore Business Park, Cavan to the market for sale next week.
The properties comprise 2 investment opportunities and 1 vacant possession opportunity which will be available to purchase in one or more lots. The combined guide price for the collection is €1,500,000.
McDonald’s Restaurant comprises a modern, single storey premises extending to approx. 2,840 sq ft in total which operates as a sit down restaurant with a drive thru facility. The property is let to McDonald’s Restaurants of Ireland Limited on a 25 year lease from 13th October 2000 at a current rent of €90,304 p.a. There are no break options and the lease is subject to 5 yearly upward only rent reviews.
The joint agents are guiding €1,100,000 for this property, equating to a net initial yield of 7.86%.
NCT Centre comprises a modern industrial building of steel frame construction with profile metal clad walls and roof with translucent glazing, extending to approx. 2,707 sq ft in total. The property is let to Applus Car Testing Service Limited (previously known as the National Car Testing Services Limited) on a 30 year lease from 4th January 2000 at a current rent of €28,689 p.a. There is a break option in 2020 which is subject to 3 months’ prior written notice.
The agents are guiding €300,000 for this property, equating to a net initial yield of 9.15%.
Units 20A & 20B comprise 2 adjoining light industrial units of modern steel frame construction with block walls beneath a profile metal clad roof incorporating translucent glazing. The units extend to approx. 3,626 sq ft each and are currently vacant.
The agents are guiding €100,000 in total for the two units.
Pullamore Business Park is an established retail and trading location, which benefits from extensive profile onto the busy N3 Dublin – Cavan Road. Other occupiers within the park include Texaco filling station, Luxor Lighting and Cavan Tyres.
The joint selling agents anticipate a good level of interest in the properties due to the strong covenant strength of the tenants in place and the low vacancy rate within the Business Park.
- Ends -
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
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 135 employees, we work with occupiers, investors and developers of office, industrial and logistic, 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