IndustrialSpace: Two adjoining warehouse units at a prime location in Sandyford Industrial Estate in Dublin 18 are guiding over €3.5 million by private treaty through DTZ Sherry FitzGerald.
With a major mixed-use scheme at Beacon Quarter South in the same area launched last week and the ongoing dearth of investments in the commercial market, there should be keen interest in units 1 and 2 at 40 Heather Road in the estate.
These units extend to over 1,150 sq m (12,378 sq ft), stand on a site of almost 0.4 hectares (virtually an acre of ground) and have over 50 metres of road frontage along the central spine of the industrial estate.
The strength of demand for such property in the area was highlighted last week when Lisney secured more than €9.4 million for an industrial facility of 2,958 sq m (31,840 sq ft) on 0.81 hectares about 100 metres away at 70/73 Heather Road.
This latter facility also included 496 sq m (5,339 sq ft) of office accommodation and three adjoining self-contained office and warehouse units with a total of 1,093 sq m (11,765 sq ft).
One of the main attractions of the area is its proximity to the M50, which forms the southern border of much of the industrial estate. The Stillorgan Road/N11 is about 0.5km away, and with the arrival of Luas in Sandyford, there are good prospects for the residential redevelopment of the area, subject to planning permission. The Luas terminal is a short distance away at Brewery Road and offers a ready and reliable service to St Stephen's Green in 22 minutes.
Units 1 and 2 at 40 Heather Road offer modern warehouse accommodation with offices to the front and yard to the front and side.
They are finished with a six-metre clear internal height and outside there is a large car-parking and marshalling area. Unit 1 has 463 sq m (4,978 sq ft) and unit 2 has 819 sq m (6,643 sq ft).
Philip Lammas, who is handling the sale for DTZ Sherry FitzGerald, says the private treaty aspect of the sale may suit many parties. He says: "Many bidders in the current market dislike the tender and auction processes for a variety of reasons.
"Here we are giving interested parties the ability to acquire the property on a private treaty basis, and the additional advantage of the option to avail of an enormous stamp duty saving of 8 per cent should they elect to purchase the non-trading company that owns the premises as opposed to just the bricks and mortar.
"The entire area is witnessing a renaissance with strong demand from retail warehouse operators, motor dealerships and industrial and warehouse occupiers alike.
"With the current benign interest rate environment, a variety of businesses - including office-based companies - are seeking to purchase rather than rent property both as personal investments for their directors and to accommodate their space requirements."
