Tuesday 20 March 2018

Two adjoining industrial units guiding over €12m

Belgard House is on the market for €6.75m
Belgard House is on the market for €6.75m
Peter Flanagan

Peter Flanagan

William Harvey and Co has been retained as agent for two industrial units in Dublin which are on the market separately with guide prices of €6.75m and €5.5m.

The two properties are on an adjoining site of 7.7 acres at Belgard Square in west Dublin.

Belgard House is on the market for €6.75m. The property is said to be a "striking, high profile warehouse & office HQ" comprising 98,846 sq ft on a secure, corner site of 3.5 acres. Formerly the headquarters of United Drug, the premises has more recently been occupied by both PRL and a company within Kerry Group.

The three storey corporate offices total 35,575 sq ft with a full occupier fit-out to include open plan and cellular offices, a canteen, boardroom and reception with lift serving all floors.

The warehouse has a clear internal height of 8.7m and loading access via two dock levelers and eight ground level doors. There are 116 car spaces and a yard for truck parking.

According to Kevin McHugh of William Harvey & Co, "the property is likely to be of interest to both owner occupiers and investors due to the shortage of warehouse/office buildings of this size and quality in the Dublin area.

"In addition, the asking price which equates to €735 per sq m or €68 per sq ft is well below that which a developer would need to charge for an equivalent new building".

Meanwhile the former industrial bakery of Cuisine de France comprises 122,300 sq ft on a site of 4.2 acres and adjoins Belgard House. It is for sale for €5.5m.

Harveys believe the property may suit as a film or TV studio subject to planning permission. It has two high-bay, former cold stores that provide insulation and soundproofing. There are large offices suitable for production, a kitchen canteen facility, industrial areas together with car parking.

Alternatively, Harveys say the premises would suit manufacturing use with a large workforce nearby and a host of staff amenities and transport links.

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