Sunday 17 November 2019

€1.1m for three units at Stillorgan Industrial Park

THREE investment opportunities in Stillorgan Industrial Park, Dublin 18, are being offered for sale with a combined €1.1m price tag.

CBRE is offering the units for sale in one or more lots. Colm Luddy of CBRE says that the three are currently generating a combined rent of €168,000 a year and with the asking price they would generate an initial yield of over 14.5pc.

Located on Spruce Avenue, close to Beacon South Quarter, the units offer good access to the M50 and the N11.

Columba Mercier occupies the largest of the units, 55 A&G Spruce Avenue, under the terms of a 20-year-lease from March 1996 with about two years unexpired. This semi detached unit extends to 781sqm and includes two-storey offices to the front and a mezzanine extending to 115sqm in the warehouse.

There is a generous yard to the front and extra parking is available to the rear of the unit.

The adjoining property, Unit 55 F, has been let to The Redeemed Christian Church under the terms of a three-year lease from June 2010. The current passing rent is €20,000 a year and the unit extends to a total floor area of 288sqm.

O'Briens Fine Wines occupies Unit 33 Spruce Avenue, which extends to 808sqm (8,697 sq ft) under the terms of a 20-year lease from August 1996, with two years unexpired. The current passing rent is €103,000 per annum.

Agents CBRE is offering the properties for sale and is guiding a price of €1.1m.

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