Saturday 24 August 2019

Industrial sites with development prospects launched in the capital

Nearby: Bluebell Luas Stop
Nearby: Bluebell Luas Stop
Donal Buckley

Donal Buckley

Two Dublin industrial properties with development potential are being launched on the market this week with prices ranging from €630,000 to €7.5m.

The more valuable of them is the well-established Naas Road Industrial Park on a 4.2 acre high profile site with 160 metres of frontage on to Naas Road as well as profile on to the Old Naas Road. Bluebell Luas stop is less than 150 metres away.

It comprises six units extending to a total 87,174 sq ft. LMI Technologies, JC Decaux, B Braun Medical and Total ICT Services occupy four of the units which generate €408,250 in annual rent.

Manus Agnew of sales agent Quinn Agnew says that based on a rent of €8.50 per sq ft, the other two units which are vacant and extend to 38,080 sq ft could generate a further €323,000 per year.

The site is Zoned Objective Z6 and he believes it offers development potential subject to planning permission.

Interest is expected from private and institutional investors in light of the quality of the tenants.

In addition, developers may be interested because of Dublin City Council's encouragement for conversion of industrial areas on transport nodes to residential uses.

Meanwhile, on Dublin's north side agents Cushman & Wakefield are seeking around €630,000 for Unit 131D, Slaney Road, Dublin Industrial Estate, Glasnevin, Dublin 11.

The property is an end-of-terrace light industrial unit extending to 7,442 sq ft, on a 0.27 acre site. The property is currently producing an annual rent of €8,000 per annum.

Selling agents Nicola Gilleece and James Smith say it could generate further income from vacant space while it also offers long-term residential potential.

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