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Unit 14 Naas Road Business Park, Muirfield Drive, Dublin 12

Investment Property (507.46 sqm) For Sale by Private Treaty
of

Price Offers in Excess of €520,000

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Features

  • Modern industrial building located in an established park
  • New 25-year lease with a break option in year 10
  • Property extends to approx. 5,462 sq.ft plus 8 designated car parking spaces
  • Rental income €45,000 per annum
  • Attractive initial yield of 7.87%
  • Zoned Z14 Strategic Development and Regeneration Areas
  • Further development potential (subject to planning permission)
  • Tenant not affected by sale

Location

The subject property is located within Naas Road Business Park which is accessed from Naas Road via Muirfield Drive.

Naas Road Business Park is located approximately 6.5km south west from Dublin City Centre and 2.5km from the M50/N7 interchange, providing direct access to Dublin Airport, Dublin Port and the main arterial routes serving the country which include M7/N7 (Dublin – Limerick Motorway) to the south and the M4/N4 (Dublin – Galway National Route/ Motorway). The Luas Red line runs along Naas Road with the nearest stop at Bluebell only 250 metres away. Numerous Dublin Bus services are available on the Naas Road.

Full Description

The property comprises an end of terrace industrial unit with a portion of two storey offices to the front. A steel-framed temporary mezzanine has been constructed in part of the warehouse area.

The building is of concrete frame construction with a pitched double skin metal deck roof. The entire property extends to an approximate gross external floor area of approximately 5,462 sq.ft (507.44) sq.m) and includes 8 designated car parking spaces.

The ground floor office section comprises a reception area, office & showroom. Further office space is provided at the first-floor level. The office accommodation is finished to a specification including suspended ceilings, fluorescent lighting, wall mounted storage heaters, perimeter trunking, plastered and painted walls and carpeted floors throughout.

Tenancy

New 25-year lease to Rhino Industrial Ltd t/a Rhino Distribution at a rent of €45,000 per annum with a break option at the end of year 10 (L & T). The lease will commence at the closing of the sale.

Tenure

Long leasehold from 1st February 2000 for 10,000 years.

Zoning

The subject property is zoned Zone Z14: Strategic Development and Regeneration Areas ‘To seek the social, economic and physical development and/or rejuvenation of an area with mixed-use of which residential and 'Z6' would be the predominant uses’ under Zone Z14: Strategic Development and Regeneration Areas.

Price

Offers are sought in excess of €520,000, which represents a NIY of 7.87% after the deduction of standard acquisition costs at 9.96%.

Method of sale

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

 

Viewing Details

By special appointment with the sole letting agent, Lisney.

Accommodation

    The approximate gross internal area (GEA) is as follows:

    Description

    GEA Sq.m

    GEA Sq.ft

    Office

    156.31

    1,683

    Warehouse

    351.14

    3,780

    Total 507.46

    5,462

    All iteed purchasers are specifically advised to verify the floor area and undertake their own due diligence.

BER Details

BER: C3

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.

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