Yields ranging up to 7pc possible for Finglas industrial investment

The detached premises with ancillary three-storey accommodation extends to 28,955 sqft and sits on a 1.5-acre site

Donal Buckley

A private Irish vendor is selling Unit 6B, a modern industrial investment in Northern Cross Business Park, Finglas, Dublin 11. Agents CBRE are guiding €6.75m and Stephen Mellon says this reflects a net initial yield of 3.57pc, rising to just over 4pc next July and to around 7pc upon reversion.

A detached premises with ancillary three-storey accommodation, it extends to 28,955 sqft and sits on a 1.5-acre site. It includes 9,569 sqft of offices, a canteen and shower room as well as 38 car spaces.

The property is let to DX Network Services Ireland Limited on a 10-year lease with no break option from July 2021 at an annual rent of €265,000, rising to €315,000 in the fourth year and a rent review at the end of the fifth year.