Nine bidders chase €920,000 Stillorgan investment

Industrial blocks let for €60,000 per annum

The industrial investment at Spruce Avenue in Stillorgan Industrial Estate, Co Dublin
The industrial investment at Spruce Avenue in Stillorgan Industrial Estate, Co Dublin

A private investor has paid €920,000 for an industrial investment at Spruce Avenue in Stillorgan Industrial Estate, Co Dublin, which will show a return of 6.2 per cent.

The successful investor was one of nine bidders for the 1,130sq m (12,163sq ft) building which is let to pharmaceutical supplies manufacturer DiaSorin Ireland at a rent of €60,000 per annum.

The 14-year lease provides for a break in 2021.

Eoin O'Toole of Quinn Agnew was selling agent while Peter Flanagan of BNP Paribas Real Estate advised the purchaser.

Jack Fagan

Jack Fagan

Jack Fagan is the former commercial-property editor of The Irish Times