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Block 4B, Unit 3, Blanchardstown Corporate Park, Dublin 15

Investment Property (882.41 sqm) Sold
of

Sold

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Features

  • Modern office building located in an established suburban business campus
  • Entire extending to approximately 882 sq.m (9,498 sq.ft) with 27 car parking spaces
  • Single lease with an unexpired lease term of 7.3 years and upward only rent reviews
  • Passing rental income of €166,000 per annum
  • Attractive net initial yield of 7.55%
  • Reversionary potential
  • Tenant not affected by the sale

Location

The subject property is located in Blanchardstown Corporate Park which comprises a landscaped business park environment and provides a secure purpose-built campus with easy access to onsite facilities including a crèche and restaurant. The park itself is located approximately 3 km from Blanchardstown town centre, 12km from Dublin City Centre and 12.5km from Dublin Airport.

Blanchardstown Corporate Park is located adjacent to the N3 (National Arterial route Dublin – Derry) and benefits from easy access to the M50 orbital route and is a 15 minute drive time to and from Dublin International Airport and a 25 minutes’ drive time to and from Dublin City Centre.

The subject property is located in Blanchardstown Corporate 1, in a terrace of office buildings known as Block 4B, close to the main entrance of the park. Adjoining occupiers include GEM Construction, Sword Medical and Emydex Technology.

Full Description

The subject property comprises a mid-terrace three storey office building. The property is laid out to provide a mixture of open plan and partitioned office accommodation across three floors with a triple-height reception area to the front. The unit has a large kitchen facility on the ground floor. Male and female toilets are provided on each level with shower facilities on the second floor. The subject property also has the benefit of a passenger lift accessing all floors.

The specification comprises solid floors on the ground floor with raised access floors on the upper floors, air conditioning units, suspended ceilings and inset Cat 2 lighting. The property benefits from 27 surface car parking spaces.

 

Tenancy

The entire property is leased to a professional firm on a 25-year lease from 10th May 2002 (upwards only) at a passing rent of €166,000 per annum.

 

Zoning

The property is zoned HT - High Technology ‘Provide for office, research and development and high technology/high technology manufacturing type employment in a high quality built and landscaped environment’ under the Fingal Development Plan 2017 - 2023.

Tenure 

Long leasehold from 1st July 1997 for 999 years.

 

Method of sale 

The subject property is for sale through the Lisney “Click to Purchase” online platform. Further details are available on request.

 

Price

Seeking offers in excess of €2,000,000 exclusive

Viewing Details

By special appointment with the sole letting agent, Lisney.

Accommodation

    The approximate gross internal floor areas are as follows:

    Description

    GIA Sq.M

    GIA Sq.Ft

    Ground Floor

    311.41

    3,352

    First Floor

    285.5

    3,073

    Second Floor

    285.5

    3,073

    Total

    882.41

    9,498

    * All intending purchasers are specifically advised to verify all floor areas and undertake their own due diligence.

BER Details

BER: D2

Contact Details

Address: St Stephen's Green House, Earlsfort Terrace, Dublin 2
Telephone: +353-1-638 2700 or you can also email us at dublin@lisney.com

Lisney for themselves and the Vendor/Lessor whose Agents they are give notice that:

1. These particulars do not constitute any part of an offer or contract.

2. All statements contained in these particulars as to this property are made without responsibility on the part of the Agents or the Vendor/Lessor and none of the statements contained in these particulars as to this property are to be relied on as statements or representations of fact.

3. The particulars, various plans, photographs, dimensions, references to condition and permissions for use and occupation  are given in good faith and are believed to be correct but their accuracy is not guaranteed and any intending Purchasers or Tenants shall satisfy themselves by inspection or otherwise as to correctness of each of them. No omission, accidental error or misdescription shall be ground for a claim for compensation or for the rescission of the contract by either the Vendor/Lessor or the Purchaser/Tenant.

  4. Neither the Vendor/Lessor nor Lisney nor any person in their employment has any authority to make or give any representation or warranty whatever in relation to the property. 5. Prices are quoted exclusive of VAT (unless otherwise stated) and all negotiations are conducted on the basis that the Purchaser/Tenant shall be liable for any VAT arising on the transaction. PSRA No. 001848.

Please note we have not tested any apparatus, fixtures, fittings, or services. Interested parties must undertake their own investigation into the working order of these items. All measurements are approximate and photographs provided for guidance only.