Allsop Space is seeking more than €13.5m for a portfolio of warehouse units around the country that are being offered to the market as a single lot.
The Project Steel portfolio is made up of 24 predominately warehouse units. The portfolio comprises properties located in Dublin, Galway, Mullingar, and Monaghan.
Allsop say the asking price translates into a net initial yield of 16.46pc after typical purchaser's costs of 4.46pc.
As many as 20 of the units are centralised within three estates.
In total the portfolio extends to 36,262 sq. m (389,670 sq. ft) and provides a total rent roll of €2,321,769 per annum with tenants including several international retailers - Lidl, Next, & Argos. There are also two government agencies - the IDA and the HSE. Eight of the units are said to be vacant at present.
Whilst several other portfolio sales have been brought to the market recently, Project Steel is the first of a predominately industrial composition.
The sale is in part a reflection of the increase in demand in both the investor and owner occupier markets for industrial accommodation nationwide, Allsop say.
Allsop Space reported in July this year that capital values in Dublin had risen by approximately 34pc in the last 12 months, with prime net initial yields in the same period compressing from 8.68pc to 6.7pc within the asset class.
Commenting on the sale, associate director Richard O'Neill stated: "The portfolio will provide a ground breaking sale in a rapidly improving market. The portfolio will provide investors with the potential to manage and grow the existing income with the benefit of the capital gains tax exemption (due to expire December 2014) whilst also providing the potential to break up and sell on elements of the portfolio".
The portfolio is being offered on behalf of two receivers, Duff & Phelps and Mazars for a single banking institution.
The industrial market has been improvin gsteadily in recent months, as a sector that was basically moribund for five years begins to pick up once again.
Research from broker CBRE found that take-up in the Dublin industrial sector reached almost 110,000 sq m in the third quarter of 2014 which, combined with the 85,142 sq m signed in this sector during the first six months of the year brings total take-up in this sector to almost 195,000 sq m for the first nine months of 2014.
Those figures represented "a strong result but a similar volume of activity to that achieved in Q3 will be required again in Q4 if take-up is to match the bumper volume of transactional activity achieved during 2013," said CBRE.
There were 53 individual industrial transactions signed in Dublin in between July and September, of which 20 comprised lettings.
However, a number of large industrial sales that completed in the three month period skewed the result with sales accounting for more than 86pc of the industrial take-up achieved in Dublin during Q3.
Most of the deals were focused on the Dublin South West corridor around the main Dublin - Cork road, which accounted for 34pc of all sales and lettings completed in Dublin in the three month period.
A further 19pc of the industrial accommodation that either let or sold in Dublin during the quarter was located along Dublin North (N2) corridor while the Dublin North West (N3) corridor accounted for a further 18pc of industrial take-up during the period.