Unit 4 & Unit 9 Ballybrit Business Park_Property for Sale

N6, Galway, Ireland, Galway, H91 CH2V, IE

Unit 4 & Unit 9 Ballybrit Business Park

Asset description

An office investment opportunity located in Ballybrit Business Park Galway, comprising two modern office buildings. Block 4 comprises 11,859 sq. ft. (1,102 sq. m.) GIA over three storeys, while block 9 comprises 11,701 sq. ft. (1,087 sq. m.) GIA over three storeys. The properties benefit from surface level car parking spaces in the business park. The properties are available in one or more lots.

Block 4 is fully let across three leases with one tenant per floor. The passing rent is €140,000 p.a., with a term certain of 2.8 years. Block 9 is partially let to two tenants across three floors, with part of the ground floor remaining vacant. Block 9 has a current passing rent of €97,000* p.a., with the remaining vacant space currently having terms agreed at an additional €30,000 p.a. The term certain stands at 2.3 years.

The properties are strategically located on the outskirts of Galway City Centre offering great access for employees and clients, including the M6 motorway. Public transport is available with bus routes 405 and 427 approximately an 8-minute walk away. Galway’s railway station serving Ennis, Limerick and Dublin is approximately 4km from Ballybrit Business Park.

*Subject to interim stepping in one of the leases.

BER Rating – D1 > G

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Attributes

Building area gross

23,560 sf

Asking price

$2,722,000

Media

Investment highlights

Two modern suburban offices within established business park extending to approximately 23,560 sq. ft. (2,189 sq. m.) GIA
Multi-let to 5 tenants across both buildings, with part ground floor of block 9 vacant
Current passing rent of €237,000 p.a. (subject to interim stepping in one of the leases)
Strategic location close to Galway city centre, with excellent access to transport links including M6 motorway
Available in one or more lots
Tenants not affected