BNP Paribas sells Sandyford unit for €100,000 above guide

BNP Paribas Real Estate has secured top prices for office units 2 and 5 at Sandyford Park, Dublin 18.

Unit 2 extending to 433 sq m (4,660 sq ft) with nine car parking spaces and let to Fona Ltd at a rent of €100,000 per annum was sold for €1.1 million, €100,000 above the guide price.The new owner can bank on a return of 8.7 per cent on the property which is let on a 25 year lease from 2004 with a break option in 2019.

Another investor paid €2.3 million for unit 5 which is let to Festo on a 35 year lease from 1992 at €165,000 per annum. The net yield will be 6.85 per cent. The building extends to 697 sq m (7,503 sq ft)and comes with 23 car parking spaces.

Matthew Vanston of selling agents BNP Paribas Real Estate, who handled the sale, said the prices achieved highlighted the strong appetite among private investors for well-located assets with secure income.