Hevac, Muirfield Drive, Naas Road, Dublin

An excellent investment opportunity located on the Naas Road, Dublin 12, comprising a modern, detached industrial facility with recently refurbished two-story offices at the front. The property comprises 40,048 sq. ft. GEA and sits on a site of approximately 2.35 acres. The property benefits from a large yard, a clear internal height of 8.16 meters and an extensive mezzanine which was installed by the tenant.

The property is let in its entirety to Hevac Limited and Tube Company of Ireland Limited, on a 10-year FRI lease from 30^th of June 2022. The passing rent is €525,000 p.a., with a rent adjustment on the 1^st of January 2029 based on the movement of the Consumer Price Index from the 1^st of January 2024. There is also a Deed of Renunciation in place.

There is significant development potential with the immediate area gentrifying to high density residential. Z14 / SDRA Zoning – Residential and PBSA permissible uses. The general area is undergoing a significant gentrification with approx. 1,500 residential units and 900 student accommodation beds either developed or granted planning permission over the last 12-24 months.

The property is strategically located within an established business location, with the immediate surrounding area offering high visibility and accessibility via the M50 and N7. The Luas Red Line Bluebell stop is directly opposite the property, running immediately along the Naas Road. Surrounding occupiers include Des Kelly Interiors, Woodies DIY and Aldi.

Building Energy Rating:

BER Rating – C2