Fully let Nenagh warehouse and headquarter office seeking €7.5m

Agent Colliers is guiding a price of €7.5 million for a large headquarter warehouse facility on a 7.46-acre site in Nenagh, Co Tipperary.

Located on the southern side of Nenagh town at Stereame Business Park, the property sits just 3km from junction 26 of the M7 motorway, providing access to Limerick City (40km to the southwest), Dublin (165km to the northeast) and Cork City (140km to the south).

The subject property extends to a total gross floor area of 9,727 sq m (104,700 sq ft) and comprises the warehouse, three floors of offices and a separate showroom. There is also a two-storey mezzanine with an additional 1,204 sq m (12,959 sq ft).

The warehouse has an eaves height of 10m and has 12 dock-leveller loading bays and two grade-level roller shutter loading doors. There are 2.75 acres of expansion lands adjacent to the building.

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The expansion land is zoned “employment” under the Nenagh Local Area Plan 2024-2030. The stated objective of this zoning is: “To provide, improve and encourage general enterprise, business development and employment activity, including start-up enterprises and tourism. It also provides for distribution, warehouse, storage and logistics facilities where appropriate access to a major road network is available.”

The property is held under two separate leases to Banaghan & Co (Stationery) Limited and Banaghan & Company Limited. The lease term in each case is 10 years with a commencement date of January 1st, 2021, with a total passing rent of €400,000. There is a landlord/tenant break option on December 31st, 2025, subject to six months’ notice.

Richard Bielenberg of Colliers says: “This property offers an excellent asset-management opportunity or the ability to exercise the landlord break option and achieve full vacant possession by the end of 2025.”