Retail warehouse

This sale represents a rare opportunity as very few retail warehouse investments have come on the market in Dublin in recent times. The property is on a standalone site with profile directly onto the M50 orbital ring road to the east. Furthermore it is one of the largest retail warehouses in the country and due to current planning restrictions, retail warehouses of this size are no longer permitted. Under retail planning guidelines there is a restriction on large-scale single retail warehouse units in excess of 64,583 sqft (6,000 sqm). This therefore places substantial limitations on the future development of competing retail warehouse units of this size in the Dublin market. The asset is single let on a 25-year upwards only FRI (full repair and insurance) lease from March 2002. Tenant currently pays a rent of €2.02 million per annum (which equates to €18.80 per square foot/€202 per square meter).