Savills has broadened the choice of commercial property investments available in the Dublin market by offering for sale a large industrial and office building rented by Bridgestone Ireland Ltd at Fingal Bay Business Park in Balbriggan, Co Dublin.
A guide price of €3 million for the investment will provide a net initial yield of 10.8 per cent.
Bridgestone Ireland is paying a rent of €338,517 per annum on a 20-year lease from July, 2003, with five yearly upwards only rent review’s. There is a tenant break option in 2018 subject to six months notice.
The hi-bay distribution facility has a gross external floor area of 7,120sq m (76,638sq ft) and 800sq m (8,611sq ft) of office accommodation.
The clear internal height is 8m and there are loading provisions via 8 dock levellers with tailgate loading plus one ground level roller shutter door opening on to a large concrete yard.
Gavin Butler of Savills says there is a scarcity of high yielding industrial investment opportunities let to strong covenants. This particular unit was likely to appeal to both private and institutional investors seeking exposure to the industrial property sector.
Fingal Business Park is just minutes from the M1 motorway and within 15 minutes' drive of Dublin Airport. The Dublin Port Tunnel and the M50 Motorway are within 20 minutes of Fingal Bay Business Park.
