Property Description

For Sale Prime Office Investment (Tenants not affected)

Attractive detached two storey office building extending to approx. 5,639 sq.ft.
Let under 3 separate leases currently producing €82,500 per annum.
Highly reversionary offering strong potential for future income growth.
Landscaped site with patio area and 29 car parking spaces.
Excellent location close to the University of Limerick and M7 Motorway.

The National Technological Park is located in Castletroy 6 km east of Limerick City with close accessibility to the M7 Motorway. Shannon International Airport is located 35 km to the west and Colbert Train Station is only 5 km. The office park is considered one of Limerick's most prestigious business addresses and home to multinationals such as Edward Life Sciences, Northern Trust, Cook Ireland, Vistakon and Icon.
The University of Limerick and Troy Studios are both adjacent to the park and the location offers excellent local amenities including hotels, conference centres, shopping, schools, cré¨che and sporting facilities.
SAI House occupies a prominent location fronting Lonsdale Road, just off Plassey Park Road, the main distributor road running through the business park.

SAI House comprises an attractive detached two storey office building. Internally the property is fitted out to a high standard and comprises an imposing double height ceiling reception with mezzanine, a number of cellular offices, meeting rooms and boardroom together with toilet and kitchen accommodation.
Externally there is generous on-site car parking available both to the front (17 spaces) and rear (12 spaces) and the site is landscaped with a patio area. There is a gas fired central heating system.

Accommodation:
The property comprises a gross internal area of approx. 5,639 sq.ft
Floor areas quoted are approximate only and we recommend that parties carry out an independent survey

Tenancies:
Part of the ground floor is let to Cashbook Ltd on a 3 yr lease from 01/01/2024 at a passing rent of €19,200 per annum.
The remainder of the ground floor is let to OMT Global on a 3 year lease from 12/05/2008 at a passing rent of €21,000 per annum. The lease has now expired and the tenant remains in occupation on a to month basis.
The entire first floor is let to Cashbook Ltd on a 3 yr rolling lease. The passing rent is €42,300 per annum.
Total rental income €82,500 per annum with scope for strong rental uplift. Based on the asking price the investment offers an attractive Gross Initial Yield of 8.7%

Rates: 2025 €6,461

Annual Service Charge: TBC

Asking Price: €950,000

BER Details

BER No. 801101114

Energy Performance Indicator: 291.34 kWh/m2/yr

This property was last updated: yesterday morning