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DTZ Sherry FitzGerald seeking €2.4m for freehold interest in industrial building

DTZ Sherry FitzGerald seeking €2.4m for freehold interest in industrial building

DUBLIN: DTZ Sherry FitzGerald is seeking €2.4 million for the freehold interest in an industrial building with a long-term income stream at Baldoyle Industrial Estate in Dublin 13.

Should it sell at this price a purchaser can secure a net initial yield of 7 per cent.

The property, Ultra House at Unit 6-10 in the estate, is being sold by a private investor and the tenant is not affected by the sale.

It is let to An Post with another 18.6 years on the lease at a passing rent of €175,000 a year.

The property is subject to five yearly upwards-only rent reviews with the next review due in May 2019.

Ultra House extends to 1,726.7sq m (18,586sq ft) and consists of a large single-storey industrial unit with a two-storey office extension to the front and 45 surface car-parking spaces.

Baldoyle Industrial Estate is around 10km northeast of Dublin city centre which puts it within easy reach of Dublin Airport, Dublin Port Tunnel as well as the M50/M1 interchange.

It is served by a QBC while Howth Junction Dart station is within close proximity.