Sandyford investment for €1.8m

An office/warehouse investment in Sandyford Park is on the market for €1.8 million through BNP Paribas Real Estate.

At that price it would provide a purchaser with a net initial yield after purchase costs of 8.3 per cent.

The property, which has just undergone an extensive refurbishment, is let to JCDecaux on a long-term 35-year lease from February 1991 at a rent of €156,030 per annum.

Office accommodation Unit 6 on Burton Hall Road in Sandyford Park, Dublin 18, has 700sq m (7,535sq ft) over ground and first floors and is predominantly laid out in office accommodation.

JCDecaux is a leading outdoor advertising company that has been in business for 50 years. It is also Dublin City Council’s partner in the Dublinbikes scheme.

"The long-term lease offers secure income of approximately €155,000 per annum to a recognised international tenant for almost 12 years," said Peter Flanagan of BNP Paribas Real Estate.

“This, combined with an attractive and tastefully refurbished property and potential CGT exemption, will appeal to private investors.”