Nine bidders chase €920,000 Stillorgan investment

A private investor has paid €920,000 for an industrial investment at Spruce Avenue in Stillorgan Industrial Estate, Co Dublin, which will show a return of 6.2 per cent.

The successful investor was one of nine bidders for the 1,130sq m (12,163sq ft) building which is let to pharmaceutical supplies manufacturer DiaSorin Ireland at a rent of €60,000 per annum.

The 14-year lease provides for a break in 2021.

Eoin O'Toole of Quinn Agnew was selling agent while Peter Flanagan of BNP Paribas Real Estate advised the purchaser.