Tuesday 27 September 2016

Dublin unit for €795,000

Tara Fitzsimons

Published 05/04/2015 | 02:30

Quinn Agnew are seeking €795,000 for an industrial unit in Sandyford Industrial Estate.
Quinn Agnew are seeking €795,000 for an industrial unit in Sandyford Industrial Estate.

Quinn Agnew are seeking €795,000 for an industrial unit in Sandyford Industrial Estate.

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The firm are marketing the property 62A Heather Road as an investment with the tenant not effected,

The property is currently let to Logicalis Group Limited.

According to Quinn Agnew, the tenant has converted the property from industrial to offices, and that has increased the total floor area of the property to 620 sq m.

Tenant improvements are to be disregarded for renvier purpose, said Quin Agnew.

The sale is being run by a best bids process with bids due by the end of the this month.

According to the agents, this property has 14 years remaining on its lease with upwward only rent reviews through the life of the lease.

"With such a strong cevenant, we expect demand from private investors and pension funds seeking asecure investment with attractive yields," said the agent's Manus Agnew.

The current tenant's ultimate parent is Datatec. That firm is listed on the Johannesburg and London stock markets.

It is said to be a global IT solutions service company with revenues of more than $5bn a year and has 7,500 staf employed in 50 countries.

The industrial market has begun to grow slowly in the past year, albeit from a very low base. Rents are trending up in the sector.

Sunday Indo Business

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