North Park units at €4.5m

CBRE is quoting €4.5 million by private treaty for six modern industrial business units at North Park, Dublin 11. Should the portfolio make this level, the purchaser can secure a net initial yield of 6.66 per cent. The industrial units are also available to buy individually.

North Park is adjacent to Junction 5 on the M50 and has frontage to North Road and the M50. This location allows for good access to Dublin Airport, Dublin Port Tunnel, and the city centre.

Units three and four extend to 1,880sq m (20,236sq ft) and are occupied by Crown Records at a rent of €157,500 per annum on a 25-year lease from June 2004. Internally the unit has an extensive tenant fit-out with a three-storey mezzanine.

Unit five is a corner facility with profile onto the M50. The vacant building has 1,184sq m (12,744sq ft).

Units 36 and 37 are mid-terraced buildings which were amalgamated and extend to 1,166sq m (12,551sq ft). Access to the loading area is through two insulated sectional panel doors to the front. DX Network Systems Ltd occupies the units on a 20-year lease from June 2007 at a rent of €130,590 per annum.

Unit 39 is an end-of-terrace industrial/showroom unit of 482sq m (5,188sq ft) which incorporates a two-storey office space. AllMetal Fasteners rents this facility on a four-year and nine-month lease, signed in October 2014, and is currently paying rent of €25,000 per annum.