High-yielding Sandyford investment for €1.1m

Investors in search of a stellar yield may be interested in the sale of a unit at the Apex Business Centre in Sandyford, south Dublin, which is yielding 11.3 per cent.

Unit B, Block C, at the Apex Business Centre is being brought to the market by Colliers with a guide price of € 1.1 million, which equates to a net initial yield (NIY) of 11.3 per cent and capital value of € 494sq ft, after allowing for standard purchasers costs of 9.96 per cent. There is 5.4 years remaining on the lease.

The property is fully let to Allied Pension Trustees (APT), on a 25-year lease from July 2002, at a passing rent of €136,908 a year. The lease provides for five yearly upward-only market rent reviews, and includes four basement car parking spaces.

APT is a pension management company, which provides services to a wide variety of businesses across various industries, and manages in excess of €1 billion for 55,000 members across 120 workplace pensions. It was acquired by Irish Life in 2019.

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Colin O’Shea of Colliers Capital Markets said: “The sale represents an excellent opportunity for private investors seeking a high yielding office investment opportunity with an excellent covenant in a well-managed, modern building”.

The Apex Business Centre is a five -storey, modern office building comprising a number of self-contained office suites. Unit B, on the first floor of the building, comprises a modern open plan floor plate which extends to 207sq m (2,228sq ft). The first floor is accessed via an eight-person passenger lift. The office is laid out to provide for a mix of open plan and cellular offices, kitchenette, and toilet facilities. The specification includes raised access floors, suspended ceilings, recessed light fittings, and air conditioning.

Other occupiers in the building include Ethos Engineering, Pepsi Co, Intelligent Information Systems, Dean Clinic, Myriad Trading, and John Carlin Chartered Accountants.

The business centre is located in the heart of Sandyford business district, just 10km south of Dublin city centre and close to the M50 motorway. The district is well connected via public transport and is close to the Luas green line.