• Fully let producing €105,000 per annum
• Strong Covenant
• Unexpired lease term 13 years
• Net Initial Yield 6.82% (assuming purchasers costs of 9.96%) and CAP Val psf. €112
Sandyford is one of Dublin’s premium industrial and suburban office locations and is home to some of the largest corporates in the country to include Google, Microsoft European Headquarters, Salesforce, Matercard, Vodafone and AIB. The unit is situated on the eastern side of Heather Road in Sandyford Industrial Estate in South Dublin. The unit is part of a development of a number of similar blocks of small light industrial/office units. The buildings immediately adjacent to the subject property are in industrial use, however, there are some modern office developments such as One South County, Q House and Nova Atria close by. Sandyford Industrial Estate has witnessed much development over the past decade with significant office, retail and residential developments being built. Sandyford boasts a host of amenities including the Clayton Hotel Leopardstown, Beacon Hospital and the Beacon South Quarter providing occupiers with superb access to shopping, restaurants, leisure and fitness outlets. The existing LUAS stations at Sandyford and Stillorgan provide access to the city centre within 25 minutes and are located within a 5 minute walk of the property. The Stillorgan dual carriageway is within 1.5km of the unit and provides direct access to the city centre (9km) and the south east of the country. The Sandyford interchange on the M50 is also within approx. 1km of the unit and provides easy access to all the main arterial routes to the rest of the country making Sandyford an attractive investment opportunity.
The property comprises a detached industrial unit. The unit comprises concrete portal frame and block wall construction with metal deck roof and red brick/metal deck façade. The property benefits from four full height standard grade loading doors to the south elevation and one roller door to the eastern elevation. The unit provides warehouse accommodation and ancillary two-storey office accommodation to the front elevation. General office specification includes plastered and painted walls, integrated wall sockets, a mixture of slab and suspended ceilings with recessed and boxed lighting and electric storage heating.
Sleever International, creator and world leader of the shrinkable sleeve packaging solution. Experts in the manufacture of tubular labels, Sleever has been a packing specialist
for more than 45 years and have resided at the current property since 1990. Global leader of the sleeve concept and holder of the SLEEVER ® brand, which has enabled them to make the Sleeve – heat- shrinkable plastic label- a major packaging technology. Sleever is committed to their Irish operations which is evident by their extension of the current lease by way of a Deed of Variation for an additional 10 years until 2034. Sleever International according to VisionNet has a Credit score of 87, representing a Low Trade Risk.
Title – 250 years long leasehold title from 11th June 1990. Freehold title is held by Dun Laoghaire – Rathdown County Council.
Dataroom available: www.65heatherroad.com