Investor pays €8.5m at Ballycoolin

An overseas investor has paid the asking price of €8.5 million for a modern corporate headquarters and warehouse investment at the Orion Business Campus in Northwest Business Park at Ballycoolin, Dublin 17.

The deal will give the new owner a return of 7.6 per cent, according to joint agents William Harvey and Lisney.

The high quality business premises is rented by an Irish registered company WR International with a guarantee from the Pennsylvania-based VWR International, a leading provider of laboratory products, services and solutions with worldwide sales in excess of $4.1 billion. The 7,103sq m (76,454 sq ft) building was developed specially for the tenant who will be paying a rent of €675,000 per annum under a 25-year lease from 2006 with five yearly upwards-only rent reviews and a tenant break option in 2027.