Thursday 19 April 2018

Sandyford unit sells for 32pc above guide price

Ronald Quinlan

Ronald Quinlan

Agents James Smith and John Carrigan, of Cushman & Wakefield, have sold two units at Sandyford Industrial Estate on the instructions of Stephen Tennant and Nick O'Dwyer of Grant Thornton.

Unit 1, 53 Bracken Road sold for in excess of €800,000 - or some 32pc above its guide price of €550,000, while Unit 1B, Three Rock Road was sold for around €420,000.

The Bracken Road unit has an income of €54,000 per annum, reflecting a net initial yield of 9.4pc. A detached 8,300 sq ft warehouse, the property has an unexpired lease term of 8.75 years. The selling price of over €800,000 or €96 per sq ft reflects a net initial yield of 6.42pc based on standard purchaser costs of 4.46pc.

The Three Rock Road property comprises an enterprise unit of 3,300 sq ft.

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