Two Dublin properties could appeal to modest investors

Savills are guiding €1.85m for the units at E2, E3, E4 Block E, Calmount Business Park

The end-of-terrace property at 95 Upper George’s Street, Dún Laoghaire

Donal Buckley

Two Dublin properties have come to the market which could appeal to modest investors, one in Ballymount and the other in Dún Laoghaire town centre.

The former at Calmount Business Park, Dublin 12, comprises three terraced light-industrial units which are multi-tenanted.

Agents Savills are guiding €1.85m for the units at E2, E3, E4 Block E, Calmount Business Park which have a combined floor area totalling 13,896 sqft.

They are occupied by five tenants which are generating an annual income of €111,000. According to Billy Flynn of selling agent Savills: “The three properties offer a highly reversionary net initial yield of 5.46pc. The five tenancies also offer investors an opportunity to maximise returns through strategic asset management in a well-managed business park.”

The units consist of a mix of office and light industrial space with 6.55m clear internal height and access through two roller-shutter doors.

Block E Calmount Business Park is situated 1km from Junction 10 Ballymount interchange on the M50 motorway, which provides rapid access to Dublin Port, Dublin Airport and all of the main arterial routes from Dublin.

Calmount Business Park accommodates six blocks of office and light industrial units and is situated about 7.5km southwest of Dublin city centre. The area is well connected with various bus routes and the Luas red line in the locality.

The end-of-terrace property at 95 Upper George’s Street, Dún Laoghaire

The second property is located at a prominent end-of-terrace position at 95 Upper George’s Street, Dún Laoghaire adjacent to Haigh Terrace which leads to Dún Laoghaire marina.

Savills is guiding €775,000 for it.

Available with full vacant possession, it comprises an imposing two-storey over-basement building extending to 309 sqm (3,325 sqft) overall and it sits on a 0.1-acre site which includes secure off-street parking to the rear for six cars.

Stephen McCarthy of Savills, said the property could appeal to investors or owner occupiers seeking a landmark commercial property in the centre of Dún Laoghaire.

“It could also accommodate an extension of the ground and upper floors as well as alternative uses including residential use subject to planning,” he added.

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