Warehousing stability
The 100,000/€56 psf guide on a modern warehouse/commercial unit at 305 Harbour Point, Little Island, was exceeded after competitive bidding on the 1,770 sq ft unit, he says, and is now available to let with Lisney at about €12,000 pa.
Also sold (for under its asking price) was Unit 6 Westlink Park, in Wilton, a 1,375 sq ft end of terrace warehouse/commercial premises with office/service block. It made below its €85,000/(€63 psf) guide, likely to have been c €50 psf.
With selling rates for straighforward industrial space currently averaging c €35 psf, Mr McCarthy noted that “both of these units would be suitable to commercial/showroom type operator as opposed to strictly industrial, and were both of a floor area for which there is currently good demand.”
Commenting on the market, Mr McCarthy noted “rents and capital values appear to have stabilised and there continues to be demand from owner-occupiers, many of whom are cash purchasers seeking modern units of between 150- 300 sqm. The majority of properties offered for sale continue to be on behalf of receivers.”
Meanwhile, new to market with Edward Hanafin of Lisney is a high-spec, c 10,000 sq ft five-year old warehouse building at Harbour Point Business Park, Little Island, Cork.
The building, half offices and half warehouse, is called Harbour View House and runs to 9,875 sq ft on a site of 0.67 acre was built in 2009, and has 12 offices, finished and carpeted, with 7.8m eaves heights in the warehouse section, with two loading doors to the side, one of which is a dock level.
Lisney’s Mr Hanafin seeks €350,000 (c €35 psf) plus VAT.
* Details: Lisney 021-4275079
