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.