£3m sought for 50,000 sq ft Drogheda industrial building

DTZ Sherry FitzGerald is quoting £3 million (€3.81m) for a 50,000 sq ft modern industrial building in the Donore Road Industrial Estate in Drogheda. The property, which was built in 1990, is let to the print and packaging company, New Era Packaging, under a new 25-year lease at an annual rent of £265,000 (€336,481). At the guide price, the investment produces a return of over eight per cent.

In addition, as New Era is a qualifying manufacturing company, the investor will be entitled to claim total allowances of £1.1 million (€1.4) over 15/16 years at approximately £67,000 (€85,072) per annum. Donore Road is Drogheda's leading industrial estate.