4 days ago
- Business
- Irish Independent
Midlands industrial and logistics lots offer choice of strategic locations
The Athlone property comprises an investment and a development site sale with a €7.5m guide price. The Longford property is available for sale or let seeking offers in excess of €9.75m for sale, or €70 per sqm (€6.50 per sqft) on flexible lease terms.
Arrow Capital Partners is reported to be the vendor of the Longford property which comprises a detached high-bay logistics facility. Joint agents TWM and CBRE say the guide price for this former Masterlink Logistics property is well below replacement cost.
Extending to 153,614 sqft, the purpose-built warehouse is located on the outskirts of the town and is strategically located in the midlands to suit distribution, warehousing or manufacturing operations serving the whole country.
Occupying a substantial 9.44-acre site, the property comprises a warehouse area of 139,225 sqft and two-storey integral offices of 8,580 sqft. The warehouse is of steel frame construction with reinforced concrete flooring and an insulated metal deck roof and it is divided into ambient and bonded sections. It offers a clear nine-metre internal height as well as access via 15 dock levellers and eight grade-level doors. It also benefits from a B2 BER rating.
The integral offices provide a mix of open-plan and cellular spaces and include a canteen.
In Athlone the combined site area extends to 12.08 acres of which 6.38 acres is let to Heat Merchants Ltd and this letting includes an industrial premises extending to 111,000 sqft. Located on the Moydrum Road, the sale also includes an adjoining but separate 5.7-acre site.
Agent Ollie Lyons of JLL says the adjoining site presents further opportunities for development as it is zoned 'employment and enterprise' under the Athlone Town Development Plan 2014-2020 which is the current plan.
Heat Merchants supplies heating, plumbing and renewable energy solutions for both domestic and commercial projects.
The property is owned by Harleston Ltd, owners of Hevac, a provider of sustainable HVAC systems to the commercial, industrial and high-density residential sectors.
The Heat Merchants lease extends to 10 years dating from June 30, 2022 and its current passing rent amounts to €450,000 per annum.
Moydrum is an established industrial location just off junction 9 on the N6 motorway and about 1.5kms on the eastern side of Athlone town, Co Westmeath.
The property's strategic midlands location, quality tenant profile, attractive yield and development potential is expected to appeal to investors seeking exposure to the industrial market.
