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The Plassey Portfolio, National Technology Park, Plassey

Agreed Price on Application
  • status Agreed
  • style Office
  • Price POA
  • Style Office
  • Status Agreed
Contact the agent: +353 61 318 770
Patrick Seymour Patrick Seymour PSRA Licence No: 001297 - 001336 Andrew Carberry Andrew Carberry 001297-005386

Description

FOR SALE BY PRIVATE TREATY (TENANTS NOT AFFECTED) Prime Office Investment Opportunity (For Sale by Private Treaty - Tenants Not Affected) In various Lots. 3 prime Grade A Landmark Office Buildings extending to approximately 12,396 sq. metres (133,432 sq. feet) of office space on a High Profile Site of 3.07 Hectares (7.58 Acres). Generous Parking Provision with approximately 650 car spaces on site. Located on the Principal IDA Business Park in the Mid-West of Ireland and adjacent to University of Limerick. Modern Specification throughout with majority of fit-outs being completed post 2011. Efficient Floor Plates with primarily open plan layout with existing occupier floor plates ranging from 406 sq. metres to 1,306 sq. metres. The portfolio is currently 92% occupied with an attractive 930 sq. metre floor plate available to lease. Recent lettings completed with both DAA Plc and Cook Medical both tenants due to commence fitting out in mid-2017. €672,608 of current rental income subject to upward only rent review. Current Rent of €1,844,242 per annum from a high quality tenant line up, with potential to increase Income by Asset Management & letting of unoccupied office space. High Profile Office Occupiers including; Cook Medical, Northern Trust Bank, DAA Plc, Icon, Xperi, Enet, Gilt Groupe & QAD. Modern Buildings with Clive House being developed in 2015 by Brookvale Group.

Features

  • Prime Office Investment Opportunity (For Sale by Private Treaty - Tenants not Affected) in various Lots.
  • 3 prime Grade A Landmark Office Buildings extending to approximately 12,396 sq. metres (133,432 sq. feet) of office space on a High Profile Site of 3.07 Hectares (7.58 Acres).
  • Generous Parking Provision with approximately 650 car spaces on site.
  • Located on the Principal IDA Business Park in the Mid-West of Ireland and adjacent to University of Limerick.
  • Modern Specification throughout with majority of fit-outs being completed post 2011.
  • Efficient Floor Plates with primarily open plan layout with existing occupier floor plates ranging from 406 sq. metres to 1,306 sq. metres.
  • The portfolio is currently 92% occupied with an attractive 930 sq. metre floor plate available to lease.
  • Recent lettings completed with both DAA Plc and Cook Medical both tenants due to commence fitting out in mid-2017.
  • €672,608 of current rental income subject to upward only rent review.
  • Current Rent of €1,844,242 per annum from a high quality tenant line up, with potential to increase Income by Asset Management & letting of unoccupied office space.
  • High Profile Office Occupiers including; Cook Medical, Northern Trust Bank, DAA Plc, Icon, Xperi, Enet, Gilt Groupe & QAD.
  • Modern Buildings with Clive House being developed in 2015 by Brookvale Group.

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Location

Limerick is the third largest city in Ireland and the regional capital of the mid-west of Ireland with a population of 160,000. Limerick City lies on a strategic position along the Midwest corridor of Ireland bordered by County Tipperary to the east, County Cork to the south, County Kerry to the west and County Clare to the north. Limerick is located approximately 100 km north of Cork City (N20), 200 km south west of Dublin (M7) and 100 km south of Galway City (M18). Limerick City benefits from excellent connectivity with the M7 motorway giving easy access to Dublin (2 hours), the M18 motorway giving access to Galway (1 hour) and the N20 giving access to Cork City (2 hours). There are frequent rail services connecting Limerick (Colbert Station) to Dublin (Heuston Station) with a fastest journey time of 2 hours. The principal Airport for the region is Shannon International Airport which is located 24 km north of Limerick City. Limerick is connected to Shannon by high quality dual carriageway and is a 15 minute journey by car from Limerick City. Shannon International Airport provides flights to other Irish Airports, the UK, Mainland Europe and the US & Canada.
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