Two office blocks accommodating nine business units at Citywest Business Campus in west Dublin have been bought as a joint venture for €6.5 million by Bartra Capital Property and Henley Investments. The price paid will show a net initial yield of 7.87 per cent, based on a passing annual rent of €555,000.
The high-quality block, developed by Davy Hickey Properties, extends to 4,121sq m (44,358sq ft) and includes a mixture of office and office/warehouse accommodation with 100 car parking spaces. Individual units vary in size from 291sq m (3,128sq ft) to 962sq m (10,355sq ft). The entire property is fully let to six tenants, including Fitzers Catering, KCI Medical, eu Networks, TES Limited, Aeolus Engine services and Oradeo.
Sean O'Neill of agent TWM advised Bartra and Lynda Gordon of Lisney acted for Davy Hickey.
