Saturday 18 November 2017

€2.75m prospect in Dundalk could generate 12.56pc

Building One, Finnabair Business and Technology Park, Dundalk Co Louth, is on the market for €2.75m. The building is 85pc let and generating rent of €360k
Building One, Finnabair Business and Technology Park, Dundalk Co Louth, is on the market for €2.75m. The building is 85pc let and generating rent of €360k

Donal Buckley

An investment property in Dundalk, Co Louth with a €2.75m price tag could generate a yield of 12.56pc for an investor.

Building One, Finnabair Business and Technology Park, is 85pc let and generating a rent of €360,753 a year from a number of Irish and international tenants.

About 15pc of the floor area, consisting of around 440sqm (4,700 sq ft) on part of the first floor is available to let and the agents Jones Lang LaSalle and REA Gunne are quoting around €15 per sq ft for this space.

The three-storey building has a total floor area of 31,120 sq ft and there is parking for 77 cars.

Existing tenants in the building include Sustainable Energy Authority of Ireland, Seachange, Vesta and Teva Pharmaceutical. Other occupiers in the park include Boyle Sports, Irish Life, Prometric, Digi Web and Horseware. Satir, the first Chinese company attracted by IDA Ireland, is also located in the park.

Building One is being sold on behalf of Paul McCann of Grant Thornton, receiver to certain assets of two private investors.

The 90-acre Finnabair Business Park, is adjacent to Dundalk Institute of Technology (DkIT) and it is close to the M1 Motorway about halfway between Dublin and Belfast.

Frank Cronan of agents JLLS says it is about 45 minutes' drive from Dublin International Airport and about an hour from Belfast, its International Airport and Dublin city centre.

Irish Independent

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