Tenants sign up for Dublin 12 units
TENANTS are signing up for three industrial premises in Dublin 12 let through the CB Richard Ellis agency.
It has sublet Unit 4 Crosslands Industrial Estate, Ballymount to the large nationwide courier company Fastway Couriers. The 35 year head lease with landlords Irish Life dates from 1980 and is due to expire in 2015. The property extends to 4,845sqm and is situated on a high profile three acre site. It became available after Volkswagen vacated it in early 2011.
It is understood that rental terms were secured by the tenant but details remain confidential. The passing rent is believed to have been €408,000 a year.
Jarlath Lynn of CBRE says: "We are experiencing good demand for larger units with a number of 4,000sqm plus requirements in the market at present however there is a relative shortage of good quality units available".
CBRE have also reserved the former Mitsubishi HQ in Westgate Business Park, Ballymount, which extends to 4,138sqm, to a private purchaser.
Meanwhile transport provider Dublin Coach has taken a three year lease for Unit 20, Western Industrial Estate.
The agents were quoting a rent of €43,000 per annum exclusive for the semi-detached unit which extends to 1,858sqm. While details remain confidential it is understood that the dealing level was in the region of the original price quoted.
According to Patrick Cormican of CBRE it had been let after spending only three months on the market.
"We had strong levels of interest in this unit from the outset and we were confident that the guide rent at only €3.50 per sq ft exclusive was bound to attract interest from occupiers. This letting highlights the fact that there is demand for good quality units that are priced competitively".