High yielding Midleton unit for €700k

A high yielding investment property, let to a US company manufacturing precision products and services for the medical device and aerospace markets, is for sale in Midleton, East Cork, at a guide of €700,000.

At the price, and at a current quoted rent of €87,500 pa, it equates to a 12% return, with five years left to run on a new lease from January 2017 and at what’s deemed to be a current market-level rent.

The property is Unit 11 in the Owenacurra Business Part, on the outskirts of the East Cork town of Midleton, set just off its northern relief road. It’s a modern detached, single storey light industrial unit totaling 15,500 sq ft, which includes a 5,300 sq ft two storey office/service block, all on a site of 1.15 acres.