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Property Detail

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Price: In excess of €7,000,000
Location: Churchtown Business Park, Beaumont Avenue, Churchtown, Dublin 14, Ireland
BER: C1-D1 & G
Description: Churchtown Business Park is a well-established and modern Business Park comprising 21 business units on a site c.2 acres (0.74 ha)

c.3,831 sq.m. (41,260 sq.ft.)

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Churchtown Business Park, Beaumont Avenue, Churchtown, Dublin 14, D14 CC65

https://vimeo.com/560158799/e6ec3b0781

DESCRIPTION:      

Churchtown Business Park is a well-established and modern Business Park comprising 21 business units totalling c. 41,260 sq. ft (3,831 sq. m.) on a site c.2 acres (0.74 ha).  This is a much sought after business park with units in use as showrooms, workshops, stores and offices.

INVESTMENT HIGHLIGHTS

  • Fully let investment
  • 21 modern business units
  • c.3,831 sq.m. (41,260 sq.ft.)
  • Planning Permission for additional unit
  • Excellent transport connections close by with Luas, Bus and M50 Motorway easily accessibly
  • Flexible units providing light industrial, showroom and office uses
  • Strong tenant mix with excellent letting record
  • Tenants include Senator Windows, Tipperary Crystal, Louis Copeland, Skön, Danish Kitchen Design and Avista Medical 
  • Total rental income: €484,800 per annum with fixed increases 

Externally the courtyard areas are extensively landscaped and overall, the Park provides an attractive business environment. The units are of concrete block construction, with double skin insulated metal decking roofs and double-glazed aluminium windows. The units provide a mix of showrooms and workshops with office and mezzanine accommodation and benefits from double height roller shutter access. Internally they are finished to include power floated concrete flooring, fairfaced block walls and plastered ceilings to the office accommodation.

Churchtown Business Park is home to some well-established and long serving tenants with some of the occupiers having carried out extensive fitouts. The Park has always maintained high levels of occupancy with continuous demand for units in this location.

LOCATION:

***Churchtown Business Park is approx. 7km south of Dublin city, in the suburb of Churchtown, Dublin 14***

Churchtown Business Park is situated in a prime south Dublin location in the suburb of Churchtown while also close to adjoining neighbourhoods of Dundrum, Rathfarnham and Terenure. Located just off Beaumont Avenue, the surrounding area is an established and affluent residential area c. 7 km from Dublin City Centre. The area is highly accessible by public transport links with the Luas Green Line at Windy Arbour and Dundrum located c. 1.4 km from the property. There are a number of Dublin Bus routes servicing the area to the City Centre and beyond, with direct access to the M50 Motorway providing quick and easy access to the national motorway network. 

Amenities – All within 5-10 minutes-drive 

  • First Class retail, food & beverage offering with Nutgrove Shopping Centre and Nutgrove Retail Park within close proximity
  • Marley Park, Edmondstown Golf Club and the Dublin Mountains close by
  • Dundrum Shopping Centre only 1.4km away

Transport 

  • Luas – Dundrum & Windy Arbour - 15 min walk / 1.4km away
  • Dublin Bus Routes - Dublin Bus (No. 14 & 61) 5 min walk
  • M50 Motorway – (Junction 14) 7 minutes / 3.5km away
  • City Centre – 20 minutes / 6.5 km away

TENANCIES:                           

The Business Park is fully let producing a rental income of c.€482,800 per annum from 21 tenants including Senator Windows, Tipperary Crystal, Skön, Danish Kitchen Design, Avista Medical and Webshirts Limited t/a Louis Copeland.

See Tenancy Schedule on brochure attached. Full details of Tenancies are available in the Data Room.

ZONING:

Churchtown Business Park is zoned Objective E, within the Dun Laoghaire Rathdown Development Plan 2016-2021, i.e., “to provide for economic development and employment.” 

The draft Development Plan 2022-2028 proposes to have the property similarly zoned.

Planning Permission was granted April 2020 (under Ref D19A/0574) for a new Unit 22 (adjoining Units 13 & 20) to total c. 148 sq.m. at ground floor level.

More detailed planning notes available on request

ASSET MANAGEMENT:

Service Charge: Tenants pay service charge contributions towards the cost of insurance, landscaping, lighting and maintenance etc. totalling c.€33,4500 per annum.

Management Company: The development is currently owner managed with no Management Company in place. 

Future Development: Churchtown Business Park extends to an overall site area of approx. 2 acres (0.80 ha) offering future development opportunity. There is an existing planning permission (granted 2020)  for an addition light industrial unit of approx. 148 sq. m (1,593 sq. ft). 

DATA ROOM: A Data Room containing video presentation, legal documents and copy leases are available at www.churchtownBP.com. Access to the Data Room is restricted and will be granted by the agents to interested parties on the verification of identity.

TITLE: We understand the title to be held Freehold. 

PRICE: Offers are sought in excess of €7,000,000 reflecting a net initial yield of 6.3% (assuming standard purchaser costs of 9.96%) increasing with fixed rent uplifts to c.6.5%.  

BER: Generally  C1-D1 & G. Complete Building Energy Rating certificates are available in the Data Room.

 

SOLICITORS:

Dermot P. Coyne

Coyne Solicitors

Liffey Bridge House

1 Main Street

Lucan

Co Dublin

Tel: 01 628 1000 

 

CONTACT:   Nicholas Corson or Mark McCormack on 01 614 7900