Fully let office block at Citywest Business Campus guiding at €6.2m

Agent Lisney is guiding a price of €6.2 million for 3016-3018 Lake Drive at Dublin’s Citywest Business Campus. The subject property, a two-storey office block of 2,108sq m with 74 car-parking spaces comes to the market fully let to a range of well-established tenants including Pure Telecom, Schneider, and Aspen Pharma.

3016-3018 Lake Drive is generating a passing rent of €547,844 per annum and offers the prospective purchaser the opportunity to secure a net initial yield of 8.04 per cent and short-term reversionary potential to increase this to 8.5 per cent. The weighted average unexpired lease term is 5.85 years to break and 10.55 years to lease expiry.

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