Naas Road Industrial Park at €7.5m expected to attract developers

4.2 acre scheme’s location on the Luas red line offers residential potential

An aerial view of Naas Road Industrial Park, Naas Road, Dublin 12.

An aerial view of Naas Road Industrial Park, Naas Road, Dublin 12.

 

Agent Quinn Agnew is seeking offers in excess of €7.5 million for Naas Road Industrial Park on the Naas Road, Dublin 12.

The development is an established, managed business park on a 1.7 hectare (4.2 acre) high-profile site with 160 meters frontage on to the Naas Road.

Strategically located within 150 metres of the Luas red line stop at Bluebell, the scheme offers considerable development potential, subject to planning permission, to the prospective purchaser.

Naas Road Industrial Park comprises six units extending to a total area of 8,098sq m (87,174sq ft). Four of the units are occupied by LMI Technologies, JC Decaux, B. Braun Medical, and Total ICT Services respectively, and are producing a combined annual rental income of €408,250 per annum.

Immediate reversionary uplift is available with the lettings of the two vacant units. These extend to a total area of 3,538sq m (38,080sq ft). Quinn Agnew propose an indicative estimated rental value of €91.50 per sq m (€8.50 per sq ft) for the vacant units equating to a supplementary income of €323,000 per annum.

Manus Agnew of Quinn Agnew believes the development will attract interest from both private and institutional investors owing to the quality of its existing tenant base. He also expects to see interest coming from developers on foot of Dublin City Council’s expressed intention to encourage the redevelopment of existing industrial areas on transport nodes for residential purposes.