With industrial properties again in considerable demand in most parts of the Dublin region, DTZ Sherry FitzGerald is expecting an early sale of the Airport Business Campus at Swords Road in Santry, Dublin 9, which is likely to appeal to investors, owner-occupiers and developers.
Brendan Smyth and Johnny Hanrahan of the sales agency are seeking €3.1 million for the entire property.
The 3.48 hectare (8.6 acres) campus includes three modern specification steel framed buildings and two sites fronting on to the Swords Road.
There are three companies based in the park, Maxol Lubricants Ltd, Declan Gill Motors and TradeWins.
The current rent is €75,000 per annum but with Maxol Lubricants due to take over one of the buildings – unit C – at a rent of €76,500, a new owner stands to benefit from a higher rent roll.
The park has a “high technology” zoning under the Fingal Development Plan.
However some of the permitted uses include enterprise centre, high technology, hospital, manufacturing, light industrial and office.
Hanrahan said a purchaser would benefit from a net reversionary yield of 11.94 per cent, allowing for standard purchaser costs of 4.46 per cent and the estimated rental values of €4-€5 per sq ft.
The Airport Business Campus has easy access to Dublin Airport, the Port Tunnel, the M50 and the M1 motorway network and the city centre.
