Galway industrial investment offers prospect of 7.25pc yield – The Independent, Oct 22, 2020
Unit 19 Mervue Business and Technology Park, Galway
AN industrial investment, Unit 19 Mervue Business & Technology Park, Galway City, has come to the market with a guide price of more than €3.75m.
Sarah Winters of selling agents TWM says the figure reflects a net initial yield of 4.54pc increasing to 7.25pc in August 2021.
The single storey, mid-terrace ‘northern light’ industrial manufacturing property extends to 19,266 sq ft.
Fully let it is realising an annual rent of €187,209 per annum until August 2021, after which a new 10 year fully repairing and insuring lease has been executed which will increase the annual rent to €298,871.
This lease incorporates a rent review in 2026 linked to CPI. It is occupied by Delcath Systems Ltd and Goodman Medical Ireland Limited.