Other commercial property stories in brief
Irish bank buys Warsaw warehouse portfolio
AIB Capital Markets has made a substantial investment in a new warehouse property in Warsaw. The bank has used its Polonia Property Fund Ltd Partnership to acquire five buildings with a total rentable area of 33,000sq m (355,209sq ft) at Warsaw Distribution Centre close to a planned intersection of the A2 Expressway.
About 91 per cent of the space is occupied by 20 companies, including Apollo Electronics, Raflatec Polska, Universal Express and UPS.
The Polonia Property Fund is a €400 million closed-end fund which is now fully invested.
€1.12m for retail investment with capital allowances in D15
A retail investment with 80 per cent capital allowances at the Crescent shopping centre at Mulhuddart, Dublin 15, is being offered for sale by private treaty through Savills Hamilton Osborne King with an advised minimum value of €1.12 million.
The building extends to 125.9sq m (1,355sq ft) and is let on a 35-year lease from last May to Wilson Moore estate agents at a current rent of €50,000 per annum. Other traders in the centre include Spar, Bradley's Pharmacy, Sean Graham Bookmakers and O'Brien Retail Concepts which runs an off-licence. The current rent of €397 per sq m (€36.90 per sq ft) is lower than in some adjoining units.
Over €2m for industrial investment in Glasnevin
Savills Hamilton Osborne King is seeking offers over €2 million for an industrial investment at Dublin Industrial Estate in Glasnevin.
The investment includes two industrial units of 1,601sq m (17,233sq ft), including 206sq m (2,217sq ft) of offices. The buildings are leased to Lituanica Ltd on two concurrent four years and nine-month leases from April 2005 at a rent of €120,000 per annum. The asking prices would show a yield of 5.38 per cent.
