Tuesday 16 October 2018

Industrial unit at Weatherwell Business Park guiding at €1.1m

Unit A, Weatherwell Business Park (outlined in red)
Unit A, Weatherwell Business Park (outlined in red)
Ronald Quinlan

Ronald Quinlan

Agents Quinn Agnew are quoting a guide price of €1.1m for a detached, modern industrial building encompassing original two-storey offices at Weatherwell Business Park in Clondalkin, west Dublin.

The property and its adjoining rear site will be offered for sale by way of public tender on Thursday, October 26 next.

The entire building extends to 2,227 sq m, of which 1,469 sq m is occupied by way of two separate tenancies, producing a combined annual rental income of €66,400.

Neither occupier wil be affected by the sale of the property. The balance of the building extends to 758 sq m, while the adjoining rear site extends to 0.07 hectares. Both this portion of the building and the site are vacant.

Eoin O'Toole of Quinn Agnew believes it will appeal to investors and owner occupiers, describing it as an opportunity to acquire a rent-producing property with immediate reversionary potential and/or owner-occupier capabilities.

The property's appeal is reinforced by the latest report on the industrial and logistics sector, published by CBRE last Monday.

While the sector's total take-up in the first three quarters was down 20pc on the same period last year at just under 170,000 sq m, the fall-off in activity was due to a "scarcity of modern premises", according to CBRE's analysis.

There were 38 individual industrial transactions signed in Dublin in Q3 2017, bringing the total number of deals in this sector in the first nine months of 2017 to 121.

This is compared to 136 transactions signed in the same period last year.

Sunday Independent

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