BANK of Ireland Asset Management has paid in excess of £900,000 for a B1-type building of 6,867 square feet at Dundrum Business Park, Dublin 14. The unit is rented by Powercom 2000 at a rent of £77,000 per annum. The 25-year lease provides for a break option in the 10th year. The sale will produce a net yield of 8.3per cent. Ann Hargaden of Lisney handled the transaction.
Lisney is also marketing another B1-type block of 6,867 square feet in the same park. It is for rent at £12 per square foot and for sale at £125 per square foot. Car-parking spaces are available at a rent of £250 per annum.
The John Paul Group, which is developing the park, also plans to build a number of smaller high-quality office units with ancillary production space. These will be for rent at £8.50 per square foot or for sale at £85 per square foot.
Meanwhile, display specialists IRC has paid £60 per square-foot for a unit of 2,500 square feet at Goldenbridge Industrial Estate in Inchicore, Dublin 8. Palmer McCormack acted for the developers.
