Nine units in Citywest Business Campus for €6.8m

With an ever-increasing demand for good office investments in Dublin, Lisney is to invite offers in the region of €6.8 million for nine modern business units in the Citywest Business Campus in west Dublin.

For sale are nine of the 10 business units in two blocks off Citywest Road (N81) on Orchard Avenue. The range of buildings extend to 4,121sq m (44,358sq ft) and are fully let to a mixture of national and multinational tenants including euNetworks, TDS and KCI/Acelity.

The complex has a combination of office units and warehouse/office facilities, all with a high-quality specification and the usage of 100 surface car-parking spaces.

The portfolio is producing a rental income of €555,000 per annum and has a weighted average unexpired lease term of more than 6.1 years. The guide price of €6.8 million will show a yield of slightly over 7.50 per cent.

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The business units were originally developed by Davy Hickey Properties in 2008 and are centrally located within the business park with easy access to a range of transport network routes including the Luas service.