South African Investor Acquires Santry Industrial Unit for €1.325m

A private South African investor has acquired Unit 23 at Airways Industrial Estate, Santry, for €1.325 million, 13% above the €1.15 million guide price set by Colliers. The fully let industrial facility offers a net initial yield of 6.52% after standard purchaser costs.

The property, extending to 1,017 sq m (10,950 sq ft), includes two-storey office accommodation and warehouse space. It is let to Global Entserv Solutions Ireland Ltd, a subsidiary of Fortune 500 company DXC Technology, which has occupied the unit for nearly four decades. In May 2023, the tenant reaffirmed its commitment with a new lease at €95,000 per annum, following significant investment in the premises, which functions as a data centre and business-recovery suite.

Stephen Conway of Colliers noted strong competition for sub-€3m investments backed by robust covenants.

The purchaser was represented by Brian Gaffney of Murphy Mulhall.

You can read the full article in The Irish Times.