Commercial Property

€3.75m sought for west Dublin warehouse and offices

Also: Costa Coffee opens in Malahide Road centre

Warehouse and office building at Magna Business Park, which will show a net initial yield of 6.13 per cent.

Tue Nov 27 2018 - 17:30

Agent CBRE is guiding €3.75 million for a warehouse and office building at Magna Business Park in west Dublin, which will show a net initial yield of 6.13 per cent. The single-storey warehouse and two-storey L-shaped offices extend to more than 2,937sq m (31,620sq ft) and are occupied by O’Brien’s Ingredients at a rent of €240,000. The lease has more than seven years to run.

Dublin’s industrial and logistics market has performed strongly over the past 12 to 18 months and is expected to continue to do well because of the scarcity of similar buildings.

Willy Norse of CBRE said the property would appeal to investors wanting to take advantage of the resurgence in the industrial market and also interested in taking a foothold in one of Dublin's premier industrial locations.

Costa Coffee for north Dublin

Costa Coffee is the latest tenant to join the line-up at Malahide Road Retail Centre in north Dublin. Costa is trading out of a 2,000sq ft coffee pod that also has the use of outdoor seating. The letting comes just as the landlord, Irish Life, has resurfaced the car park and upgraded signage, lighting and landscaping.

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The centre benefits from its location on the Malahide Road dual carriageway, attracting more than 25,000 customers most weeks. It is anchored by Woodies and Lidl, and other tenants include Halfords, Equipet, Right Price and Tiles.

Joint letting agents Bannon and Lisney are currently marketing two available units ranging in size from 4,950 to 9,895sq ft.

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