€1m industrial investment opportunity in Cork's Frankfield

Frankfield Business Park

Investors eyeing stable industrial assets at a time of limited supply are showing keen interest in a €1m acquisition opportunity in Frankfield Business Park, on the outskirts of Cork City.

The secure and fully let property comprises five modern industrial units currently producing a combined gross rent roll of €89,000pa, with immediate income for investors. Based on a guide price of €1m, the gross yield equates to 8.9%.

Located within the well-established Ballycurreen Industrial Estate, each of the units in the self-contained business park is occupied by high-profile tenants with a number of years to run on leases, ranging from approximately two to nine years.

They include Charisma Blinds, with a lease term that runs until September 2024; Fox Flowers, who have more than two years left on their lease; Hockey World, whose lease runs until 2033; and Alan Perrott Manufacturing, who hold a 10-year lease on two of the units, starting from September 2018. Individual units, which range in size from 182sq m to 304sq m, are generating annual rents of €19,000-28,000.

The agent handling the sale, Cearbhall Behan of BIG/Downing Commercial, said interest in the park was strong, ahead of its formal market launch.

“There has been good interest prior to launch given the lack of commercial investments on the market and particularly within the industrial sector,” Mr Behan said.

Adding to the sector’s challenges is the limited development pipeline, the agent said, with very little speculative development, as rising land and construction costs prove a barrier to supply.

“The difficulty in the sector is that there is limited development of new smaller scale industrial parks given the cost of land and construction,” Mr Behan said.

With developers more inclined to tailor new industrial units to specific tenant requirements, supply was very tight, the agent added.

“Given the unprecedented demand, [industrial] supply levels are hovering at between 1.5% to 2%,” Mr Behan said.

A 2025 outlook report by the Society of Chartered Surveyors Ireland identifies the industrial sector as a bright spot, noting that investor sentiment has shifted positive for the first time in two years.

The Society predicted a 3.2% rise this year in prime industrial capital value.

The units at Frankfield Business Park benefit from a prime location off Airport Rd, adjacent to the N24, with excellent connectivity to Cork City centre, the N40 south ring road, and all key arterial routes.

Ballycurreen itself is a noted industrial area, home to major occupiers such as Musgraves Cash & Carry, DHL, and Total Import Solutions.

The units, all portal frame, include a terrace of three and two semi-detached buildings, with secure surface parking.

DETAILS: BIG/Downing Commercial: 021 427 0007.