A good quality industrial investment at Baldonnell Business Park in west Dublin has come on t he market through agents JLL.
Carol O’Donovan of the agency is guiding €3.3 million for Unit 5, an industrial investment extending to 4,611sq m (49,664sq ft) , which stands on a site of 3.2 acres.
It is let on a 10-year lease to Caulfield Transport Ltd from March, 2013, subject to a break option in 2019. The current rent of €250,000 equates to around €53.82 per sq m (€ 5 per sq ft).
The agents say there is “significant potential for a rental increase”. Based on the current rent, an investor can expect a net initial return of 7.25 per cent.
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The sale price works out at €66 per sq ft.
