New to the market this week is a large detached warehouse unit in the Euro Business Park at Little Island near Cork. This property is described as a high quality detached warehouse building constructed about 15 years ago.
It is centrally situated in the park, which is the closest of several business parks in Little Island to the N25 Waterford Road out of Cork.
It is 3km east of the Dunkettle Interchange and the Jack Lynch Tunnel. The property is described by the agent, Ed Hanafin of Lisney as being in an ‘ideal location for logistics, warehouse and distribution users’.
Accessibility is likely to improve further when the Dunkettle Interchange upgrade is completed.
Unit 19 in the Euro Business Park is a 17,743 sq ft (approx 1,650 sq m) detached warehouse building constructed on a steel portal frame with an eave height of approx 6.7m.
There is excellent loading access with two loading doors to the front, one to the side and a rear loading bay with two dock level loading doors.
The agent says one of the more attractive feature of this offering is its large site area of 1 acre. This caters comfortably for extensive parking, loading and circulation areas to the front and side of the building.
The property is being sold with vacant possession. Edward Hanafin of Lisney is quoting a guide sale price of €900,000, or around €50 psf.
Hanafin says there is now an under supply of good quality industrial buildings of this type and he anticipates strong demand from both owner occupiers and potential investors.
He estimates the quoted guide sale price is approximately half the construction cost for buildings of this type. Lisney recently sold Unit 15A in the Euro Business Park, a nearby 12,000 sq ft warehouse unit, for close to the asking price of €550,000.
The same agent has also currently gone sale agreed on Unit 18E in the same park, a 16,500 sq ft warehouse, for close to the asking price of €750,000.
Further details from Lisney on 021 427 5079.
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