Athlone industrial facility offers yield of nearly 13%

A net initial yield of 12.98 per cent is being offered on a modern industrial premises which is let on a 25-year lease from 2009.

GVA Donal Ó Buachalla is quoting €2.85 million for Block 2 at the IDA Business & Technology Park in Athlone, Co Westmeath.

It currently produces a rent of €386,689 a year from a leading global medical technology company.

Block 2 was purpose-built in 2009 and extends to 4,354.5sq m (46,871sq ft) on a site of 1.07 hectares (2.64 acres).

It includes a warehouse fronted by two-storey offices/ white rooms along with associated truck-marshalling facilities, 84 car-parking spaces and landscaped areas at the entrance.

The facility is located just off the M6 motorway.

The tenant also occupies the adjoining property on a long lease and the properties connect to the rear via the warehouse and through an external bridge.

Some 250 staff are employed in these buildings manufacturing and repairing medical devises.

Lisa McInerney of GVA Donal Ó Buachalla, who is handling the sale, said: “With yields tightening at a fast rate in Dublin, opportunistic investors are being drawn to strong locations outside of the capital seeking high-yielding returns. ”