Agent Savills is guiding a price of €4.6 million for an industrial investment at Willsborough Industrial Estate in Clonshaugh, Dublin 17. The subject property, which comprises a detached warehouse of 2,723sq m (29,310sq ft) on a self-contained 2.2-acre site, comes for sale fully let to Gist Distribution Ltd on a four-year lease extension from May 1st, 2023, to April 30th, 2027, on a full repairing and insuring lease, subject to a schedule of condition.
The property is currently generating annual rental income of €238,000 exclusive of all other outgoings. The tenant has signed a deed of renunciation waiving their renewal rights at the end of the term.
The property is well located within the established Willsborough Industrial Estate, with access provided via the IDA Clonshaugh Business and Technology Park. Other occupiers in the area include BT, SolarSmart Energy, Amazon (AWS), DPD, GXO Logistics and Mail Metrics.
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Willsborough Industrial Estate is a professionally managed development, offering a secure environment ideally suited to the needs of business. The scheme offers occupiers excellent connectivity and is located just 1.5km north-east of Dublin Port Tunnel, 5km south of Dublin Airport, 3km south-east of the M1/M50 interchange and just 5km north of Dublin city centre.
Jarlath Lynn of Savills says: “Given the highly competitive passing rent, there is scope for significant rental uplift along with future development potential given the site’s low density nature. The relatively short residual lease term means it is likely to be of interest to owner occupiers also.”
