BNP Paribas Real Estate acted as acquisition advisor for French new comer, Inter Gestion REIM, to the Irish real estate market.
The property extends to 119,213 sq.ft (11,075 sq.m) with an ancillary garden centre of c.29,000 sq.ft (2,694 sq.m), along with builder’s stores, service yard & a large surface car park accommodating 552 spaces, making it one of Ireland’s largest retail warehouses. B&Q pays an annual rent of €2.02m, securing an attractive net initial yield of c.7%.
The rarity factor of this investment is underpinned by the current planning restrictions on large-scale single retail warehouse units placing significant limitations on the future development of competing retail warehouse units of this size.
