Agent Colliers is guiding a price of €2.75 million for a 1.8-acre site zoned for employment use immediately adjacent to Dublin Airport.
Located on the Old Airport Road and to the west of the Swords Road, with the Carlton Hotel to the north, the sports grounds of the Royal College of Surgeons to the south and just off the M1 and M50 motorways, the subject property is occupied by two tenants and generating an overall rental income of €151,000 per annum.
Emo Oil Limited occupies a portion of the site under a 10-year lease, which expires on March 31, 2026 and is subject to a passing rent of €65,000 per annum. The site is an unmanned filling station operated by Certa and covers a portion of roadside to the front of the property.
The remainder of the land is leased to Value Van Rentals Limited under a 10-year lease expiring on December 31st 2029 with a current passing rent of €86,000 per annum, increasing to €92,000 per annum from January 1st, 2024. The current combined passing rent is €151,000, which is subject to an increase to €157,000 in 2024.
With Dublin Airport Authority (DAA) aiming to increase the capacity of Dublin Airport to 40 million passengers per year there is expected to be an increase in demand for space around it for a variety of purposes.
Niall Delmar, who is handling the sale on behalf of Colliers, says: “With significant future growth plans for the customer capacity at Dublin airport, this site represents an exciting opportunity for investors to acquire a strategic site very close to it, which offers steady income increasing to €157,000 per annum from January.”
