West Cork Technology Park deal goes through

AN investment that included land, and buildings and rental income has been sold in West Cork for c €1.4m.

Also due to close out very shortly is a protracted deal to an as-yet unidentified purchaser of the superbly-sited and partly-developed Clonakilty Waterfront site, which includes a site for an Aldi — across the road from a recently opened Lidl.

Meanwhile, a deal with a private Munster-based investor has just closed on the investment in the Fleming Construction-developed West Cork Technology Park via joint agents Lisney and Savills, which saw five buildings sold off via a receiver, with a current rent of €147,000 pa. Guide was €1.2m, or a net initial yield of 11.75% and after interest from five local and national bidders and a higher sale price closer to €1.4m, the net yield obtained by the purchaser is still above 10%, with significant potential to increase the return by further lets - as not all of the buildings are fully occupied.