Property Description

Investment Highlights
• Single let to internationally renowned technology firm, Cisco Systems Internetworking (Ireland) Limited, on an FRI lease from 19 November 2007.
• Passing rent of €890,000 per annum increasing to €965,000 effective from November 2027.
• Unexpired term of 6.29 years to lease expiry.
• Extends to a measured gross internal floor area of 4,867.48 sq.m (52,393 sq.ft).
• Modern standalone office building with 136 car parking spaces.
• With a guide price of €8.5 million, the property offers a net initial yield of 9.52%, rising to 10.32% following a fixed rental uplift from November 2027 (assuming standard purchaser costs of 9.96%).

Data Room available at: ciscogalway.com

Description:
Single let on an FRI lease to Cisco Systems Internetworking (Ireland) Limited, Unit 6 is a striking four-storey office building with a secure basement with frontage onto the N67 dual-carriageway, one of the main arterial routes into the city. Completed in 2007, it offers 136 dedicated parking spaces across surface and basement levels. Architecturally distinctive, the building features a glazed façade and a unique triangular floorplate, making it a well-known landmark within the Park and surrounding area.

The interior is finished to a high standard, with a tenant fit out that includes a canteen, kitchenette, boardrooms, private offices and fully equipped meeting rooms. A temperature controlled laboratory/research suite is located on the ground floor. Additional amenities include showers on alternating floors, a central core with two passenger lifts and toilet blocks and secondary stairwells at each wing.

The tenant has implemented several ESG initiatives including upgrading the heating system to an air sourced heat pump and has installed 10 no. EV car chargers in the basement car park. Additionally, a specific area at basement level has been designated for bicycle and motorbike parking. The BER Pathway outlines a number of ESG works that could be undertaken in order to increase the BER rating on the property.

Location:
Located on Ireland’s west coast, Galway ranks as the country’s third largest county with a recorded a population of 277,737 as of the 2022 Census. Oranmore is a vibrant and fast-growing coastal town just 9km east of Galway City, with a 2022 population of 5,819 – reflecting steady growth in recent years. The property is strategically located near the M6 / M17 motorway, providing direct access to Galway, Dublin, Limerick & Sligo. Oranmore Business Park is also served by multiple Bus Éireann, Citylink and TFI Local Link routes, while Oranmore train station provides regular connections to Galway City, Limerick, Athlone, and Dublin Heuston. Shannon airport is just 45 minutes away, offering flights to major UK and European cities, as well as seasonal transatlantic services.

BER Details

Energy Performance Indicator: 0.00 kWh/m2/yr

This property was last updated: 4 days ago