A private Irish investor stands to secure a net initial yield of 8.76 per cent following their acquisition for €1.71 million of an industrial unit at Sandyford Business Park in south Dublin.
Unit 5 was fully let to Festo Limited on a 35-year full repairing and insuring (FRI) lease from April 1ST, 1992. Festo supplies automation technology and technical education solutions for more than 35 industries and is an independent, family-owned company with operations in about 60 countries.
Extending to approximately 712sq m (7,667sq ft),Unit 5 briefly comprises a mid-terrace office and industrial unit of concrete portal-frame construction. There are two-storey offices to the front of the property and a warehouse to the rear.
Located just off Burton Hall Road in Sandyford Park and at the heart of Sandyford Business District (SBD), Unit 5 is readily accessible thanks to its proximity to junction 14 of the M50 motorway, the N11 and the Sandyford and Stillorgan stops on the Luas green line. The immediate area is served by a number of Dublin Bus routes and the Aircoach service to Dublin Airport.
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Stephen Conway of Colliers, who handled the sale, said “Unit 5 is a quality industrial unit in a highly sought-after suburban location. Investor interest in the property was excellent and largely underpinned by the high-level occupier demand coupled with the ongoing and more general shortage of available industrial accommodation.”
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