An outstanding investment opportunity at Building 2, Parkmore Business Park, Galway is being brought to market by JLL for sale by private treaty. Building 2 comprises a detached warehouse/production unit with two storey offices fronting the building.
The building is fully let to Celestica Ireland Ltd with a lease guarantee from Celestica Inc at a passing rent of €575,000 per annum due to increase in 2020 to €625,000 per annum and it has eight years remaining unexpired on the lease. Celestica is one of the world’s largest electronics manufacturing services companies with a market cap in the region of $1.5 billion. At year end December 2015 the company had a turnover of $5.6 billion and a gross profit of $391 million.
The building which extends to 83,911sq ft (GEA ) has been kept in good condition. The office accommodation is well fitted out with carpeted floors and suspended tiled ceilings with recessed fluorescent lighting and oil fired central heating. There are approximately 100 on site car parking spaces to the front and side of the property and there is separate access to the loading areas to the rear of the building. The building along with the rest of the business park, has been managed and maintained superbly well.
Parkmore Business Park is one of the premier industrial and logistics locations in Galway due to its accessibility and the high quality of the buildings. The property is one km south of the N17 Galway-Sligo road, six km north of the N18 Galway-Limerick road, and three km north of the Galway-Dublin road providing excellent access to the national road network.The high quality environment, excellent access, and proximity to the national road network makes Parkmore a very desirable location from an occupier’s and investor’s perspective. The park contains a host of household names such as EA Sports, SAP, Merit Medical, and Medtronic, etc.
The property is for sale by private treaty at a guide price of €6 million, which reflects an attractive net initial yield of approximately 9.17 per cent (after standard purchaser costs ).
For further information contact 01-6731600.
