D11 logistics unit guiding at €2.25m
Jarlath Lynn of CBRE is guiding a price of €2.25m for a prime logistics opportunity at Rosemount Business Park in Ballycoolin, Dublin 11.
Unit 47 is currently let to Hytech Logistics Ltd, producing an annual rental income of €160,000 exclusive per annum under a short-term FRI (full repairing and insuring) lease which is due to expire on February 28, 2019.
The lease provides for a mutual rolling break option subject to four months prior written notice.
The flexible short-term income will suit both investors who could seek to regear the existing lease or owner occupiers who could take back possession of the property within the relatively short term.
The subject property comprises of a quality logistics facility extending to 2,323 sq m (25,006 sq ft) on a secure fenced site of 1.26 acres.
This high-bay property benefits from generous loading facilities including three grade doors and dock leveller.
Rosemount Business Park is home to a number of high profile occupiers, including Office Depot and Dunnes Stores, both of which have substantial distribution centres within the estate.
Jarlath Lynn, a director with CBRE's industrial and logistics division says: "This is a great opportunity to purchase a well-specified building within an established estate. I expect to see a good level of interest from both occupiers and investors given the lack of buildings currently available for sale."