A high income-producing office and warehouse building in Tallaght village, Dublin 24, comes on the market this week at a guide price of €4.8 million. Lynda Gordon of Lisney is handling the sale of the investment, which will show a return of 9.05 per cent.
The 2,555sq m (27,506sq ft) building is divided into three separate units, each with their own access points, and a car park with 69 spaces. The development is producing a rental income of €453,600, and has a weighted average unexpired lease term of more than 8.1 years.
The recently refurbished building is fully let, and the strong line-up of tenants is led by office supplies group Bryan S Ryan, along with the HSE and Dún Laoghaire Education and Training Board.
Bryan S Ryan pays a rent of €272,600 for 1,373sq m (14,789sq ft) on a lease that is due to run until 2026.
The HSE pays a rent of €84,000 for 404sq m (4,357sq ft), which is used as an outpatients paediatric facility. Its lease is due to run until 2030.
The third unit of 776sq m (8,360sq ft), occupied by the educational board, is held on a new 10-year lease at a rent of €97,000 per annum.
