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Case Study

Unit 36 Fonthill Industrial Estate, Dublin 22

Vendor:            Green Property 

Purchaser:        Confidential 

Rentable area:  approx. 2,071 m2

Price:                 €3.68 million

In March 2016, JLL successfully completed the sale of Unit 36, Fonthill Industrial Estate on behalf of Green Property.  The sale was the result of 6 months’ work including pre-sale advice to our client and negotiating with the tenant to re-gear the lease terms to increase the investment value and ultimately maximise the sale price. 

The property comprised of a high quality, modern warehouse and distribution facility of 22,288 sq. ft. in a prime location in West Dublin.  The property is fully let to An Post, the state postal service, and had over 12 years remaining unexpired on the lease at the time of sale following the re-gear.

The property was brought to the market publicly in January 2016 through a Private Treaty sale.  Following our marketing campaign which included direct targeting of investors, we received significant interest and a large number of enquiries.  We subsequently recommended a ‘Best Bids’ process to bring the sale to a conclusion.  This led to a sale price in the region of €3.68 million / 5% Net Initial Yield (after standard purchaser’s costs) being achieved and completion of the sale took place within 12 weeks from the initial launch.  

The sale price was one of the strongest prices achieved for an industrial investment in recent times.  This outstanding result reflected the quality of the asset and the long-term secure income.  It was as a direct result of the successful collaboration between both the Industrial Agency and Investment teams within JLL, the strategic pre-sale investment advice provided and the subsequent highly efficient sales campaign.

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