Dublin 15 office investment at €2m promises 7.75% net initial yield

The sale of a fully-let office investment in Dublin 15 offers investors the opportunity to secure an attractive net initial yield of 7.75 per cent.

Unit 3 at Block 4B in Blanchardstown Corporate Park is being offered to the market by agent Lisney at a guide price of €2 million.

The subject property comprise a self-contained office unit extending to 882.41sq m (9,498sq ft) with 29 surface car-parking spaces. The property is leased to a professional firm on a 25-year lease from May 10th, 2002, (upwards -only) at a passing rent of €166,000 per annum with a weighted average unexpired lease term of 7.3 years to expiry.

Considerable interest

Blanchardstown Corporate Park is an established and secure landscaped business park, and is located just 3km from Blanchardstown town centre, 12km from Dublin city centre and 12.5km from Dublin Airport.

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Thomas Byrne of Lisney’s investment department says he expects the property to attract considerable interest from a number of investors due to its attractive remaining lease term and significant reversionary potential.