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Unit 6 The Courtyard, Kilcarbery Park, Nangor Road, Clondalkin, Dublin 22

Investment Property (225.00 sqm) For Sale by Private Treaty
of

Price Offers in Excess of €375,000

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Features

  • Modern own door office located in a busy business park
  • 5 year lease from 1st June 2017 with no break option
  • Stepped rent increases to €35,000 per annum from 1st June 2019 (and €38,000 per annum for years 4 & 5)
  • Current tenant has been in occupation since 2000 and have renewed their lease on a 4/5-year term since then
  • Net Initial Yield 9.10% (based on the average annual rent for the remaining lease term)
  • The property includes 7 designated car parking spaces
  • Tenant not affected

Location

The subject property is located within a development known as “The Courtyard”, which forms part of Kilcarbery Park, a light industrial and own-door office development dating from the early to mid-2000s. The development is situated on the northern side of the New Nangor Road, approximately 14kms to the west of Dublin City Centre and 4kms west of Clondalkin village.

Kilcarbery Park benefits from good access to the M7/N7 (Dublin – Limerick Motorway) to the south and the M4/N4 (Dublin – Galway National Route/ Motorway) to the north via the local roads network. In addition, Dublin Bus services are available along nearby New Nangor Road and commuter train services are also available to the north at Adamstown.

Full Description

The property comprises a mid-terrace office facility, with an open plan office and WC on ground floor with meeting rooms, canteen and WC at first floor level.

The building is of concrete portal frame construction with concrete block infill walls finished externally with profile metal cladding façade. The entire is covered with a double skinned insulated metal deck roof.

The property includes seven designated cars parking spaces.

The office accommodation is finished to a high modern specification including suspended ceilings, air conditioning units, fluorescent lighting, plastered and painted walls and carpeted floors throughout.

 

Tenancy 

The property is leased to KLA-TENCOR Ireland Limited, on a 5 year lease from the 1st June 2017 at a stepped rent* of Year 1: €30,000, Year 2: €30,000, Year 3: €35,000, Year 4: €38,000, Year 5: €38,000. * Rents exclusive of VAT.

The average rental income for the remainder of the term is €37,000 per annum (based yrs 3,4 & 5).

KLA-TENCOR Ireland Limited have been occupying the subject property since 2000 and have renewed their lease on a 4 and 5 year terms since then.

 

Tenure

Long leasehold interest from the 1st July 1997 for 999 years subject to a peppercorn rent.

 

Price

Offers are sought in excess of €375,000, which represents a NIY of 9.10% (based on the average stepped rent remaining of €37,000 p.a) after the deduction of standard acquisition costs at 8.46%.

 

Viewing Details

By special appointment with the sole letting agent, Lisney.

Accommodation

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

    Description

    GIA Sq.m

    GIA Sq.ft

    Ground floor

    225

    2,421

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

BER Details

BER: C1
BER No. 800685174
Energy Performance Indicator: 93.72 (kgCO2/m2/yr) kWh/m2/yr

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.