Sandy­ford Busi­ness Park of­fice build­ings new to mar­ket and fully let

The Irish Times - Business - - COMMERCIAL PROPERTY -

Two fully-let of­fice build­ings with ware­house space to the rear in Sandy­ford Busi­ness Park are new to the mar­ket this week through agent BNP Paribas Real Es­tate.

Unit 4, let to Eir on a 35-year lease from Oc­to­ber 1994, pro­duces a rent roll of €222,000 and is guid­ing €3.025 mil­lion, which would sug­gest a net ini­tial yield of 6.7 per cent.

Unit 3, a mid-ter­race two-storey build­ing, is for sale at €1.425 mil­lion.

It is let to Phonewatch Ltd on a 35-year lease from March 1991 at a rent of €100,000 which would sug­gest a net ini­tial yield of about 6.5 per cent.

Car-park­ing spa­ces

It ex­tends to 434sq m (4,671sq ft) and comes with 10 ded­i­cated car-park­ing spa­ces.

Both Phonewatch and Eir­com are not in oc­cu­pa­tion which may present fur­ther as­set man­age­ment op­por­tu­ni­ties for a pur­chaser.

These two prop­er­ties form part of an eight-unit scheme de­vel­oped in 1990.

Many of the units are let un­der up­wards-only leases due to end in about seven years’ time.

The busi­ness park is op­po­site Leop­ard­stown Re­tail Park and within walk­ing dis­tance of the Luas green line.

Unit 3, which is let to Phonewatch, is for sale at €1.425 mil­lion

Newspapers in English

Newspapers from Ireland

© PressReader. All rights reserved.