A business park in Swords is fresh to the market this week, with agent Kelly Walsh Property Advisers guiding €2.75 million, equating to a net initial yield of 9.73 per cent.
Seatown Business Campus is being sold on the instructions of receiver Ken Fennell of Deloitte. The campus includes 21 modern industrial units in a mature setting. Seventeen of the units are occupied, which reflects an 81 per cent occupancy rate.
These occupied units are generating a rent roll of €279,368 per annum, with a weighted average unexpired lease term of 3.6 years.
“ Excellent asset management opportunities to increase the current rent roll, in addition to long-term redevelopment potential of the property exist,” according to Kelly Walsh.
The entire floor space of the campus extends to 4,385sq m (47,200sq ft), while the overall curtilage of the site extends to 2.4 acres.
The units are accommodated in six separate blocks, while the campus offers over 60 surface car-parking spaces.
Seatown has good transport links being convenient to the M1, while the M50 is 6km to the south. Dublin Airport is 5km away.
The entire site is zoned objective ME under the 2011–2017 Fingal Development Plan to facilitate “opportunities for high density mixed use, employment generating activity, commercial development and support the provision of appropriate quantum of residential development within the metro economic corridor”.
