Price Offers in Excess of €375,000
Online Sales Room
- 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)
- Tenant not affected
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.
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.
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.
Long leasehold interest from the 1st July 1997 for 999 years subject to a peppercorn rent.
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%.
By special appointment with the sole letting agent, Lisney.
The approximate gross internal area (GIA) is as follows:
BER No. 800685174
Energy Performance Indicator: 93.72 (kgCO2/m2/yr) kWh/m2/yr
Address: St Stephen's Green House, Earlsfort Terrace, Dublin 2
Telephone: +353-1-638 2700 or you can also email us at email@example.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.