€6m paid for redevelopment site in Sandyford

Planning application for 1.8-acre redevelopment site in south county Dublin being considered

The site includes a 3,902sq m (42,000sq ft) office and warehouse building along with 107 car-parking spaces let to Avid Technology International (above) until April 2017

The site includes a 3,902sq m (42,000sq ft) office and warehouse building along with 107 car-parking spaces let to Avid Technology International (above) until April 2017

 

Development Securities, the British-listed property company, has paid €6 million for a 1.8-acre redevelopment site in Sandyford, Co Dublin.

The site includes a 3,902sq m (42,000sq ft) office and warehouse building along with 107 car-parking spaces let to Avid Technology International until April 2017.

The initial yield will be 12.75 per cent, according to the new owner.

‘Selectively expand’

Matthew Weiner of Development Securities said the company’s presence in Dublin “is growing as we continue to selectively expand both our development and investment activities where we see strong buying opportunities within the market”.