Saturday 21 September 2019

Industrial portfolio set to fetch €28.5m

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Donal Buckley

Donal Buckley

A portfolio of four industrial and logistics investment properties in two Dublin industrial parks have gone on sale with a €28.5m guide price.

Branded as the Compass Portfolio, it is fully let to three tenants and currently produces a combined annual rent of almost €1.47m.

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Garrett McClean, of selling agent CBRE says the initial yield of 5.54pc has potential to be increased.

The combined floor areas extend to 19,823 sq m and the four units generate a total annual rent roll of over €1.71m.

The properties comprise Block S Greenogue Business Park extending to 14,377 sq m; Unit 519 Greenogue Business Park (2,339 sq m); Unit 3/4 North Park (1,916sq m); and Unit 5 North Park extending to 1,191sq m.

The portfolio is being sold by St. Stephen's Green Funds ICAV, controlled by private investors who bought within the last four years.

Irish Independent

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