Industrial unit in Sandyford with surety of income for €1.4m

Unit on Heather Road is let to French manufacturer Sleever until 2034

The sale of a €1.4 million industrial unit in Sandyford Industrial Estate is expected to attract strong investor interest given its potential strong rate of return.

65 Heather Road is located in one of Dublin's premium industrial and suburban office locations, home to some of the largest companies in the country including Google, Microsoft, Salesforce, Mastercard, Vodafone and AIB.

The property is situated on the eastern side of Heather Road in Sandyford Industrial Estate in south Dublin, with a development of similar blocks of light industrial/office units.

The green line Luas is located within a five-minute walk of the property, while the Stillorgan dual carriageway is also nearby.

Purchasers’ costs

The property is currently let to Sleever International, a French manufacturer of tubular labels. The company, which makes leader shrink sleeve labels, has occupied the building on Heather Road since 1990, having extended its current lease by way of a deed of variation for an additional 10 years until 2034.

At an asking price of €1.4 million, the investment indicates a net initial yield of 6.82 per cent, after deduction of purchasers’ costs. The property has an unexpired lease term of 13 years.

Agent Knight Frank expects significant investor interest, given the long-term surety of income, attractive rate of return, and prime location of the asset.

Fiona Reddan

Fiona Reddan

Fiona Reddan is a writer specialising in personal finance and is the Home & Design Editor of The Irish Times