Agent Colliers is guiding a price of €5 million for a long-income medical-use portfolio. The investment, which is being offered for sale in one or more lots, offers the prospective buyer the opportunity to secure a net initial yield of 6.5 per cent. The portfolio comprises four assets across Lucan, Co Dublin, Maynooth, Co Kildare and Ennis, Co Clare. All four properties are fully occupied by a mix of tenants, including Centric Health, the OPW and Claremed Pharmacy.
The details are as follows:
Francis Street, Ennis, Co Clare
This property is let to Centric Health Primary Care Limited, the OPW and Claremed Pharmacy, and is generating a gross rent of €256,115 a year, with an unexpired lease term of 7.21 years. The property is guiding at €2.6 million, reflecting a net initial yield of 7 per cent and a capital value of €282 per sq ft.
Ballyowen Lane, Lucan, Dublin
This property is located on the first floor of a well-established medical facility, is fully let to Centric Health Primary Care Limited and is generating €101,365 annually in rent. The lease expires in 2039, providing an unexpired term of 14.8 years. The property is guiding at €1.5 million, reflecting a net initial yield of 6.1 per cent and a capital value of €219 per sq ft.
Ballyowen Castle, Lucan, Dublin
This ground-floor medical unit is occupied by Centric Health Primary Care Limited, producing a passing rent of €32,010 a year, and with an unexpired lease term of 14.8 years. The guide price of €485,000 reflects a net initial yield of 6 per cent and a capital value of €245 per sq ft.
Unit 2, Manor Mills, Maynooth, Kildare
Located in Manor Mills Shopping Centre, this medical suite is occupied under a long-term lease by Centric Health Primary Care Limited, generating €25,000 annually. The lease expires in 2039, offering an unexpired term of just under 15 years. The guide price of €400,000, reflects a net initial yield of 5.68 per cent and a capital value of €236 per sq ft.
