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A MODERN office building in Sallynoggin, in the south of Dublin city, has been sold by Atisreal Harrington Bannon for 1.6m in a private sale.
The entire building is let to Alltracel Pharmaceuticals on a 35-year FRI lease from May 2001, at a passing rent of 74,000 a year.
The agents confirmed strong interest in the investment due to the rarity of buildings with a good covenant and a 30-year lease term with no breaks.
This interest was reflected in the sale price, which achieved a net initial yield of 4.15%.
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YOU ARE HERE: 19 March 2007 / tribune.ie / 2006 / 02 / 26
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