Monday 19 August 2019

Industrial unit with potential guides at €1.75m

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Stock image
Donal Buckley

Donal Buckley

An industrial investment opportunity in Tallaght which is also considered to have long-term residential development potential has been brought to the market with a €1.75m guide price.

Stephen Mellon of Savills says Unit 6, The Square Industrial Complex generates annual rent of €133,875 and its guide price suggests an attractive net initial yield of about 7pc.

The premises is occupied by Demesne Electrical Sales Limited on the basis of a ten-year lease from June 2017 and Demesne has a healthy Dun & Bradstreet credit rating of 1A2, which reflects well on the covenant.

An imposing end-of-terrace unit totaling 1,539 sq m including 595 sq m of offices, the premises benefits from an attractive red brick and stone feature façade and comes with seven parking spaces. It is of concrete frame construction, has full-height block infill walls and its roof is insulated metal decking incorporating 10pc translucent panels with a clear internal height of 7.5m.

In the South Dublin County Council Development Plan 2016 - 2022, the premises is located in an area zoned under Objective Town Centre - "To protect, improve and provide for the future development of Town Centres''.

Permitted uses under this zoning objective include conference centre, nursing home, primary health care centre, residential institution, retail warehouse and major sales outlet.

In addition, uses open for consideration under this zoning objective include motor sales outlet, outdoor entertainment park, science and technology-based enterprise.

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