Warehouse and office on M50 for sale
€1.45m price for property rented on 20-year lease for €90,000 a year
The light industrial warehouse and offfice in Westgate Business Park
The asking price will show a net initial yield of 5.9 per cent and a reversionary yield of 7.9 per cent after allowing for standard purchasers’ costs of 4.46 per cent.
The property is let to RR Donnelly Ireland on a 20-year lease from 2015 at an annual rent of €90,000. The lease contains break options for both the landlord or tenant after 5, 10 and 15 years.
RR Donnelley Ireland had a turnover of almost €22 million in the year ended December 2015, as well as a pretax profit of €400,000 and shareholders funds of more than €4.2 million.