A prime industrial investment with an unexpired term of more than 12 years is guiding €10.5 million through Cushman & Wakefield.
Units 4-5 Mygan Business Park off the Jamestown Road in Finglas, Dublin 11, consists of two interconnecting hi-bay logistics units extending to 8,881sq m (95,594sq ft) on a site of 5.65 acres. It is close to Junction 5 of the M50, with easy access to Dublin Airport and the Dublin Port Tunnel.
Two-storey office space to the front of unit 4 extends to 424.5sq m (4,226sq ft) and the agent says there is scope for additional development on the site. Planning permission (not acted upon) was granted in 2012 to add an additional 3,716sq m (11,40,000sq ft) of warehouse space and additional office accommodation.
The property generates an annual rent of €550,000 and is let in its entirety to Nightline Group, a wholly owned subsidiary of UPS, under two 15-year leases from May 1st, 2016.
Four-storey DIT building in D1 for sale for €5m
A DIT facility just off O’Connell Street in Dublin 1 is on the market through Lisney for more than €5 million. As part of the sale, the premises at 6-12 Sackville Place will continue to be leased to the now Technological University Dublin until October 2020.
The well-maintained, mid-terrace, four-storey over-basement educational building extends to 2,004sq m (21,570sq ft) and is opposite the new €16 million Moxy Hotel. It is laid out in classrooms, an exam hall, lecturers’ offices, staff and meeting rooms.
Subject to planning permission, the property will probably be redeveloped.
30-acre site in Co Meath guiding €7.5m
Knight Frank is guiding €7.5 million for a large residential site on the fringes of Ratoath in Co Meath.
The Fairyhouse Road site on 30.23 acres is being sold on the instruction of statutory receiver Declan Taite of Duff & Phelps. It is about 1km from the centre of the town, which is about 22km from Dublin.
About 19 acres is zoned for residential development under the current Meath development plan. The remainder is zoned for open space, un-zoned (about 6.72 acres) and lands reserved for the Ratoath outer relief road (4.31 acres).
Residential site in Citywest sells for €5.5m-plus
Knight Frank has recently completed the sale of a 6.7-acre residential site at Fortunestown Lane in Citywest, Dublin 24 for more than €5.5 million. The ready-to-go site has planning permission for 128 residential units and commercial space and benefits from its proximity to the Luas, the N7 Naas Road and the M50.
Kieran Bray of Knight Frank said it attracted considerable interest given the current “dearth of ready-to-go opportunities of this scale in Dublin”.
Warehouse in south Dublin business park sells for €7.55m
Industrial specialist William Harvey has just completed the off-market sale of the Unit H warehouse at Aerodrome Business Park in southwest Dublin for €7.555 million, reflecting a net initial yield of 5.19 per cent. It was bought by Aviva Life & Pensions UK from a group of private investors.
This prime warehouse facility built in 2007 extends to 4,290sq m (46,177sq ft) on a site of 2.97 acres, which provides capacity for future expansion of the building. It is let on a 25-year lease from 2007 at a rent of €425,000, which increases to €450,000 in November 2022.
€2.25m guiding for ground-floor office in D2
In Dublin 2, Savills is guiding €2.25 million for part of the ground floor office scheme at 3 Harmony Court on Harmony Row. The property, which extends to 316sq m (3,405sq ft) and comes with three basement car-parking spaces, has a full fit-out including a boardroom, large meeting room, four private offices and open-plan office area. The spec includes air conditioning, Cat 5 cabling, storage units and kitchen facilities.