Prime Office Investment (Digiweb), IDA Business & Technology Park, (Finnabair), Dundalk, Co. Louth

Sold

Beds
Price	Sold
Property Type	Office
Size	1119 meters²
Energy Rating	BER-D1
Refreshed on
Eircode	A91PP6Y
Group Name	Sherry FitzGerald Carroll
Sales License Number	003177

Description

Sherry FitzGerald Carroll are delighted to present a unique opportunity to acquire a high profile office investment within IDA Finnabair Science & Technology Park in Dundalk only 40 minutes from Dublin Airport. The property offers prospective investors an opportunity to acquire a high yield office investment opportunity producing an attractive 8.0% NIY with a strong covenant from Digiweb a national Irish company with a proven track record. The property comprises an attractive two storey building together with rear store /workshop. totaling 12,044sq ft (1,119sq m) approx on an extensive area of 1.2 acres approximately. The main building was originally developed as 10 self-contained office suites, extends to 10,710 sq ft. (995 sq m) Eight of the original suites are now converted to form one large office unit over two floors with the two individual own door offices set out as self-contained suites of approximately 1,000sq ft. each. The building was purpose built of brick and block construction with a concrete slab construction at first floor under an insulation steel roof. In addition, the first floor benefits from a high level of glazing to the perimeter walls offering panoramic views of surrounding park towards the Cooley Mountains. The main office unit provides for a ground floor entrance, reception and a mixture of open plan and cellular office accommodation over ground and first floor levels together with a range of staff areas. The two individual own door offices comprises reception, 3 no offices and staff areas. In addition to the main building, a detached Store / Workshop of 1,334sq ft ( 124sq m) is situated to the rear within a large secure compound. Car parking facilities are provided for 48 cars for staff and customers within the forecourt of the property. This building offers highly efficient and flexible office space capable of meeting the needs of modern office occupiers. ADDITIONAL LANDS The property occupies a total site area of 1.2 acres approximately with the lands to the front of the property (0.4 acres approx) offering significant development opportunity for additonal office accommodation at the property (subject to planning). Accommodation Schedule Description Area Sq. M. Area Sq. Ft Ground 497.5 5,355 First 497.5 5,355 Store / Workshop 124.0 1,334 Total 1,119 12,044 TENANCY • The property is fully let to Digiweb Limited on a full repairing and insuring lease. • The lease is for 10 years from 1st June 2021 with a tenant break option in 2028, subject to 6 months prior written notice. • The lease is subject to five yearly open market rent reviews. • The initial rent is 150,000 per annum PLANNING A great of planning was granted in 2020 (Ref 20/640) for retention of the building in its current layout. We understand all planning and fire certification matters are up to date, however all intending purchasers are to satisfy themselves as to the adequacy of the planning permission and certification. RATES The current rates payable on demised premises are circa. 11,555 per annum payable by the tenant TENURE We understand the property is held under a long leasehold from IDA Ireland. COVENANT DETAILS Digiweb Limited is a national telecommunications company in Ireland, supplying business and consumer broadband and web hosting. Digiweb was founded in 1997 and is headquartered in Dundalk with installation and sales offices in Dublin. SPECIFICATION • Attractive ground floor reception • Raised Access Floors • Suspended Ceilings • Recessed category II light fittings • Comfort air cooling • Good levels of natural light • Mixture of open plan and cellular office accommodation • Excellent on site staff and visitor parking with 48 car spaces IDA Finnabair Business and Technology Park is one of the North East's most renowned business parks extending too c. 37 hectares (91 acres), offering pleasant landscaped environment and the highest of standards of office accommodation in the region. This destination offers outstanding accessibility to Ireland's two largest cities of Dublin and Belfast, being equidistant distance between the two and strategically located on the Dublin Belfast economic corridor. Dundalk's advantageous and pivotal location is second to none and has attracted a high calibre of FDI companies including Irish Life, Paypal, WuXi, Wasdell, National Pen, Prometric, Graebel, Almac and Vesta all choosing to locate here. Full details and inspection appointment upon request with agents on 042 9332173 or info@sfcarroll.com

Accommodation

BER Details

BER: D1 BER No: 800482317 Energy Performance Indicator: 474.07 kWh/m²/yr

Negotiator

Brian Carroll

Description

Accommodation

BER Details

BER: D1 BER No: 800482317 Energy Performance Indicator: 474.07 kWh/m²/yr

Negotiator

Brian Carroll