Gavin Butler of Savills is guiding a price of €5.25 million for an industrial investment portfolio at the well-located Century Business Park in Finglas, Dublin 11.
Extending to an overall area of 5,617sq m (60,461sq ft), the portfolio comprises five units ranging in size from 420sq m (4,521sq ft) to 2,237sq m (24,079sq ft). The units for sale are of metal-frame construction incorporating clear internal heights from 7.5m to 11m.
The combined rental income is €351,750 per annum, equating to a rent of €5.82 per sq ft and a net initial yield of 6.2 per cent. The portfolio comes with a weighted average unexpired lease term of 3.3 years, and is being offered for sale with the benefit of the common areas within Century Business Park.
Gavin Butler says: “This is an excellent investment opportunity with the guide price reflecting significant value at €82 per sq ft. There is potential to increase the rental income in the short to medium term and, with the common areas included in the sale, there is also longer-term redevelopment potential subject to planning permission.”
Century Business Park is a modern industrial development comprising a total site area of 4.57 hectares (11.3 acres). The scheme enjoys a high-profile location at the junction of St Margaret's Road (R104) and Charlestown Place/Melville Road with access to the park off Melville Road. The location is just 1km from Junction 5 on the M50 providing motorway access to all of the main arterial routes leading to Dublin city centre, Dublin airport and the Port Tunnel.
Charlestown Shopping Centre, which includes Dunnes Stores and Odeon Cinemas, is located directly opposite Century Business Park.
