Thursday 22 February 2018

M4 units for sale or lease

Three units in phase two of the M4 Business Park in Celbridge, Co Kildare, are available for sale or letting at prices ranging from about €75 per sq ft and at rents ranging from €7 per sq ft.

Developed by local firm Kildrought Developments, the business park has already seen most of phase one sold off with the reminder of it let.

About half of phase two is occupied by four businesses including: Lyons O'Connell accountants;, the computer parts business and Tedwall Partitions Ltd, which are experts on office fit-outs.

The largest of the units currently available is the top-floor unit in the three-storey building, which has an office floor area of 215sqm or 20,000 sq ft as well as about 130sqm of storage at mezzanine roof level.

Agents Coonans Real Estate Alliance are quoting a rent of around €150,000 for this unit.

They declined to quote a sale price, but if an investor was to seek a gross yield of 10pc this would suggest a price of around €1.5m.

It is available in shell and core condition, but the landlord would be willing to negotiate on a fit-out.

The other two units extend to around 4,000 sq ft each over both ground and first levels and their rent is about €10 per sq ft.

Likewise, on the basis of a possible 10pc gross yield, this suggests that they might sell for around €400,000 each.

Irish Independent

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