Warehouse and office on M50 for sale

Industrial agent William Harvey is seeking €1.45 million for a high-quality light industrial warehouse and office investment fronting onto the M50 in Westgate Business Park.

The asking price will show a net initial yield of 5.9 per cent and a reversionary yield of 7.9 per cent after allowing for standard purchasers’ costs of 4.46 per cent.

The property is let to RR Donnelly Ireland on a 20-year lease from 2015 at an annual rent of €90,000. The lease contains break options for both the landlord or tenant after 5, 10 and 15 years.

RR Donnelley Ireland had a turnover of almost €22 million in the year ended December 2015, as well as a pretax profit of €400,000 and shareholders funds of more than €4.2 million.