Naas warehouse and office unit for sale for €740,000

Agent Colliers International is guiding a price of €740,000 for a modern warehouse and office unit at Naas Enterprise Park in Naas, Co Kildare.

Unit 1 extends to 1,355sq m (14,585sq ft), and is laid out as two-storey office accommodation to the front and as a warehouse to the rear.

The property will be fully let to Exhibition and Conference Services (ECS) Ltd who will take a new 10-year full repairing and insuring lease at a rent of €70,000 per annum. The lease provides for an open market rent review at year five and the tenant has the benefit of a break option at the end of year five, subject to 12 months' prior written notice.

Well positioned

ECS Ltd is a trade event, conference and exhibition company which has been in operation for more than 20 years. Its core services include bespoke exhibition design, build and production, large-format graphics, fabric printing, electrics and furniture hire.

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Naas Enterprise Park itself extends to more than 40.47 hectares (100 acres), with over 100 occupiers in over 139,350sq m (1.5 million sq ft) of industrial and office accommodation. Located on the southern side of the Naas to Newbridge road (R445), 6km west of Naas town centre and 4km east of Newbridge, the park is well positioned next to the M7 motorway, providing easy access to Dublin, the M50 and the wider motorway network.

The subject property’s €740,000 guide price equates to a net initial yield of 8.60 per cent, after allowing for standard purchaser’s costs of 9.96 per cent.