Two high-yielding warehouse and office facilities and a commercial development site in Ashbourne, Co Meath, are fresh to the market this week through joint agents William Harvey and Co and Ganly Walters.
The highest-value asset, Unit 9A in Ashbourne Business Park, is guiding €3.65 million, which would reflect a net initial yield of 8.05 per cent.
This detached logistics and office facility of 6,336sq m (68,209sq ft) is producing a rent roll of €306,940 per annum. There is 5,560sq m (60,822sq ft) of warehouse space and 686sq m (7,387sq ft) of office and staff facilities.
It is let to Primeline Logistics on a full repairing and insuring lease for a term of eight years and six months from March 2013. There are no break options in the lease and the next rent review is due on February 28th, 2017.
Unit 9A has plenty of car parking, a lift to all floors, a minimum clear internal height of 13m and a large rear service yard.
Ashbourne Business Park is just off the M2 and about 12 minutes driving time from the M50 which offers ease of access to the Dublin Port Tunnel and Dublin Airport.
The agents are quoting €3.3 million for Unit 20, also at Ashbourne Business Park, which would show a net initial yield of 9.8 per cent.
It is let on a full repairing and insuring lease to Offsite Archive Storage and Integrated Services Ltd (trading as Oasis) on a 25-year term from October 2008.
There are no break options in the lease but the rent roll is currently abated to €336,915 whereas the contracted rent stands at €430,843. The next upwards-only rent review is due in 2018 and every five years thereafter.
The detached warehouse and office facility has 3,272sq m (35,220sq ft) of warehouse space and 548sq m (5,898sq ft) of office and staff facilities. Built in 2009, it has plenty of car parking to the front and a warehouse height of 14.9m (49ft).
The development site, which is adjacent to Unit 20, is guiding €690,000. It extends to 5.52 acres and would be ideal in terms of any future expansion to Unit 20.
