Sunday 22 September 2019

Dublin industrial units for auction and to let at two schemes

Unit 508B Northwest Business Park has a €1.2m reserve price
Unit 508B Northwest Business Park has a €1.2m reserve price
Ronald Quinlan

Ronald Quinlan

One of the few remaining industrial units in North Dublin within the 10,000 sq ft to 20,000 sq ft range will be offered for sale by public auction at Leopardstown Pavilion on November 22 next.

Agents Cushman & Wakefield have set a reserve price of €1.2m for Unit 508B at Northwest Business Park in Ballycoolin, and expect to see significant interest on the day from both investors and prospective owner occupiers.

The property comprises a modern end-of-terrace warehouse facility of 14,800 sq ft, with 3,000 sq ft of office space to the front of the building.

Loading access is via one dock leveller and one grade-level door. The warehouse facility has clear internal height of 8.86m, in addition to a good quality two-storey steel mezzanine structure positioned to the western section of the warehouse.

Selling agent James Smith says: "There are just a handful of buildings of this size and quality currently on the market the North Dublin area. Given that current purchase costs for a design-and-build unit of this size and quality are likely to be in the region of €160-plus per sq ft, the property presents obvious value for a prospective purchaser. Interest is expected to come from both investors and owner occupiers."

Elsewhere in Dublin, Cushman & Wakefield are acting as joint letting agents with JLL on the remaining vacant units at Westlink Industrial Estate just off the Kylemore Road.

Since acquiring the scheme two years ago for €7.35m, Westlink's owners, Ardale Property Group and Stenprop Ltd have engaged in a €1m refurbishment to bring it's offering to the highest standard.

Units incorporating modern warehouse and office facilities and ranging in size from 5,800 sq ft to 17,500 sq ft are now available for letting at rate of €6.50 per sq ft.

The first month is being offered rent-free by the letting agents for new entrants to the estate, subject to satisfactory lease terms being agreed before January 31, 2018.

Westlink Industrial Estate is located just off the Kylemore Road in Ballyfermot, opposite Kylemore Park North and parallel to Kylemore Way which leads to Jamestown Industrial Estate and Inchicore. The scheme is 3km from junction 9 of the M50 (Red Cow Interchange), while Dublin city centre is 7.5km to the east.

Letting agents James Smith of Cushman & Wakefield and Cathal Morley of JLL believe the Westlink units are priced to let, and as such, expect there to be a good level of take-up.

Sunday Independent

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