€5.25m for Fonthill office/industrials

A fully let office and industrial investment in Dublin 22 is on the market through Savills at more than €5.25 million. Numbers 16 and 16A Fonthill Industrial Park are producing a rent roll of €490,000 from four tenants, three of whom are on new leases, with a weighted averaged unexpired lease term of 5.46 years. The rent is due to rise to €500,000 in 2017.

Based on the guide price, a purchaser would secure a net initial yield of 8.93 per cent after standard costs of 4.46 per cent. The capital value works out at €1,668.4 (€155 per sq ft). Built in 1999 and 2001 respectively, 16 & 16A have a total office element of 2,438sq m (26,242sq ft) and 707sq m (7,610sq ft) of industrial space, used for workshops, showrooms and warehousing. There are also 99 car-parking spaces.

Fonthill Business Park is off the M50/N4 intersection and close to the Liffey Valley Shopping Centre. Developed and managed by Green Property, Fonthill has a mix of high-spec office and industrial buildings in its business park and retail warehousing in its retail park. Occupiers include Dunlop, An Post, Musgrave Group, Homebase and Lidl.