Entire industrial estate and an adjoining three bedroom house Site area of approx 1.15ha / 2.84 acres Rental income of €542,000 per annum from five tenants with anticipated rental increases at rent reviews within the estate in 2019 and 2020 WAULT of 7.3yrs (5.4yrs incl. break options) Commercial buildings

• Entire industrial estate and an adjoining three bedroom house
• Site area of approx 1.15ha / 2.84 acres
• Rental income of €542,000 per annum from five tenants with anticipated rental increases at rent reviews within the estate in 2019 and 2020
• WAULT of 7.3yrs (5.4yrs incl. break options)
• Commercial buildings extend to 6,635 Sq.M approx GEA
• Individual warehouse units range in size from 450 Sq.M to 1,670 Sq.M approx
• No. 307 South Circular Road extends to 105.5 Sq.M and comprises a two storey, three bedroom, red brick, period house (recently vacated) with a large garden
• Sizeable strip of grass canal bank with approx 188m frontage included
• Potential for substantial redevelopment of site (subject to planning permission)
• Currently zoned Objective Z6 (Enterprise/Employment)

Tenancies

All seven warehouse buildings within the estate are currently leased and producing a rental income of €542,000 per annum. The tenants include An Post, DTW Capital Limited, BSS (Ireland) Limited, Modern Woodcraft Ltd and The Irish Cancer Society Limited.

The estate management store, the estate management office, and No. 307 South Circular Road are currently vacant with the latter suitable for immediate letting.

A full tenancy schedule is set out in the marketing brochure.

Title

The estate is held under two long leasehold interests of 800 years from 1906 and 1908 respectively. Each lease is subject to an annual peppercorn rent. No. 307 South Circular Road, including No.307A, is held under a 999 year lease from 1874 and is also subject to an annual peppercorn rent.

Sales Process

The property is being offered for sale by way of Formal Tender. Completed Tenders must be submitted by 14.00hrs on Wednesday 07 November 2018.

Full access to a dedicated data room and to tender documents is available from the joint selling agents, PALRE and Lisney, subject to the completion of a non-disclosure agreement.

Joint Selling Agent

PALRE, 12 Hatch Street, Dublin 2. Tel: 01 6392916

Redevelopment Opportunity

• Substantial, brownfield, inner city site of approx 1.15 ha / 2.84 acres
• Situated on a main distributor road and adjacent to Cork Street bus corridor
• Excellently serviced by public transport
• Convenient walking distance of city centre
• Established residential and neighbourhood-commercial location
• In proximity to Griffith College and to the Coombe, St James’s and new National Children’s Hospitals
• Approx 188m of canal frontage
• Opposite Strategic Development & Regeneration Area
• Clear case for rezoning
• Obvious residential, PRS, student housing, nursing home, and mixed-use development potential (subject to planning permission)