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POA
Refreshed on: 12/09/2018

White Heather Ind. Estate & 307, South Circular Road, Dublin 8 D08FR9

Investment Property 6740 m 2 Energy Rating


Description

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. 

REDEVELOPMENT OPPORTUNITY

Majority of the site is zoned Objective Z6 under the Dublin City Council Development Plan 2016-2022 "To provide for the creation and protection of enterprise and faciliate opportunities for employment creation"

No. 307 South Circular Road is zoned Objective Z1 "To protect, provide and improve residential amenities"

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 Form ...

Lisney Commercial (Dublin)

St. Stephen's Green House, Earlsfort Terrace, Dublin 2

Tel: 01 638 2700

PSRA Licence No.  001848



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