Three commercial buildings outside Waterford city for €2.25m

Full occupation produces €331,000 annual rent roll, with Harvey Norman largest tenant


Three fully occupied modern commercial buildings in a park on the outskirts of Waterford city go on sale from today at €2.25 million through Savills and REA McCormack Corish.

The investments are located in Lacken Road Business Park close to the Waterford outer ring road.

The three buildings produce a combined rental income of €331,000. The highest rent of €125,965 is paid by Harvey Norman, which operates a distribution centre.

Tenants

Nearby Waterford/Wexford Training & Education Board pays €51,000 for its training centre while Irish Pride Bakers contributes €40,000 for its distribution facilities. Another of the main tenants, the Brothers of Charity, pays €65,000 for a good-sized building.

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Stephen McCarthy of Savills said the sale offered a great opportunity for a hands-on investor to capitalise on a high yielding, well-located regional investment.