Colliers completes the sale of Units 16 & 17 Southern Cross Business Park in Bray, Co. Dublin

Dublin, Ireland – Colliers International achieved excess €645,000, equating to a NIY of 6.77%, and a capital value of €107 psf, the price achieved was well in excess of the guide price of €550,000.

“The property generated strong interest from a broad pool of investors. The excellent reputation of The Butler’s Pantry - being a well recognised, household name – adding to the appeal. The result demonstrates the strong demand for Industrial investment opportunities” - Stephen Conway, Colliers International.

Furthermore, Colliers add “the demand for Industrial and Logistics investment opportunities is due to further increase with prime yields now at 4.75% and a storage of stock in this sector to satisfy demand from investors”.

Let to The Butler’s Pantry Holdings Limited t/a The Butler’s Pantry by way of a 10-year full repairing and insuring lease from May 2018, at a rent of €48,000 per annum. The lease provides for an open market rent review at year 5 and the tenant has the benefit of a break option at the end of year 5.

The Butler’s Pantry operate their state-of-the-art kitchen facility from the premises - supplying all their stores peppered throughout Dublin. The first Butler’s Pantry opened on Mount Merrion Avenue, Blackrock in November 1987 and they now have 9 food stores, stocking an ever-expanding selection of exceptional products.

Southern Cross Business Park is located just off the Boghall Road in Bray, Co. Wicklow - a highly accessible location, close to Bray town centre is just five minutes drive from the N11/M11 motorway. Units 16 and 17 comprise two adjoining and interlinking modern light industrial / manufacturing units, that have been substantially retrofitted to meet the tenants needs.

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Michele McGarry

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Acknowledged Investment marketplace expert with extensive experience in the Irish investment market.

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Colin O'Shea

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