Thursday June 4, 2020

Athlone business park block with ‘excellent’ tenant sold for €3.1m

GVA Donal O'Buachalla has sold Block 2, IDA Business & Technology Park in Athlone, Co Westmeath to property fund Yew Tree Commercial for in excess of €3.1 million representing a net initial yield of approximately 11.9 per cent.

25th January, 2015
Block 2, IDA Business & Technology Park in Athlone, Co Westmeath

The six-year-old, purpose-built property extends to 4,354.5 square metres incorporating a warehouse fronted by two storey offices/white rooms and associated truck marshalling facilities, 84 car parking spaces and landscaped areas at the entrance to the property, all on a site of about 2.6 acres.

The entire property is let on a 25 year FRI lease from September 18, 2009 and currently produces a rent of €386,689 per annum. The tenant is a global medical technology company.

Lisa McInerney of GVA...

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