A range of own-door office units at Dublin's hugely-successful Citywest Business Campus have been brought to the market by agent CBRE at guide prices from €410,000-€990,000.
The sale of the eight properties is expected to appeal to both private investors and self-administered pension funds thanks to the combination of strong initial yields of between 7.6 per cent and 9 per cent on offer, and the opportunity to secure additional income through the letting of one unit which is vacant currently.
Seven units of the eight are let and producing a a total annual rent of €436,792 per annum. All of the leases are on full repairing and insuring (FRI) terms and the current tenants are Lufthansa, Draeger Medical, Glan Agua, PMI Software Lyoness Loyalty and RGH Capital.
The offices range in size from 1,875sq ft-4,325sq ft and are grouped in blocks of three with generous car parking provisions on site. The two-storey units are finished internally with raised access floors and suspended ceilings and full air conditioning throughout.
The units are available individually with prices ranging from €410,000- €990,000, or alternatively in multiple units, or in its entire.
Citywest Business Campus is widely acknowledged as one of Dublin's foremost business addresses. Located just off the M50 on the N7 Naas dual carriageway, the scheme benefits from excellent transport links including numerous Dublin Bus routes and the Luas red line, with a dedicated Citywest campus stop. Occupiers within the park include leading global companies in pharmaceuticals, IT/software, telecomms, electronics, media and food such as SAP, EIR, Adobe, GSK, Unilever, Fidelity, Glanbia, United Drug, UPS, Nestle, Sanofi, The Irish Times, JTI and FAAC.
Colm Luddy of CBRE says: “These units offer excellent returns which are difficult to find in the current low-return environment.”