Sportswear giant signed long-term lease on Dublin 15 logistics unit in 2021 to counter Brexit impact
Less than two years on from securing JD Sports as tenant on a new long-term lease at unit 35 Rosemount Business Park in Ballycoolin, Dublin 15, Irish Life Investment Managers has instructed agent CBRE to find a buyer for the property. The facility, the first dedicated Irish distribution centre to be operated by the UK-headquartered sportswear retailer, is being offered to the market at a guide price of €15.75 million.
Unit 35 comprises a 91,186sq ft GEA logistics centre on a 1.99-hectare . The subject property, which was occupied previously by office supplies specialist Office Depot , underwent a substantial refurbishment in 2021. The refurbishment which included energy-efficient upgrades, ventilation-system upgrades, fire-safety upgrades and an upgrade of the office area brought the property’s Ber rating from a lowly D2 to a B1 in advance of JD Sports taking occupation.
The property is let to JD Sports Fashion Ireland Limited, with a parent guarantee from JD Sports Fashion PLC, on a 15-year lease from September 2021 with a 10-year break option. The sale offers the prospective purchaser annual rental income of €866,267 with about 8½ years to the break option, along with the added benefit of CPI-linked rent reviews with a cap-and-collar of -1 per cent to 2.5 per cent annually.
JD Sports is one of the world’s leading omnichannel retailers of sports, fashion and outdoor brands. The group operates in 3,400 locations in 32 regions and boasts a significant presence in the UK, Europe, North America and Asia Pacific. Unit 35 Rosemount Business Park supplies approximately 40 stores on the island of Ireland, and the e-commerce operation that serves the Irish market.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Jim McGuinness: Hard to know if Tyrone can return to their 2021 All-Ireland winning levelsJim McGuinness: Hard to know if Tyrone can return to their 2021 All-Ireland winning levels via IrishTimesSport
Read more »
Former Leinster forward Scott Fardy to be the new Connacht defence coachFormer Leinster forward Scott Fardy to be the new Connacht defence coach via IrishTimesSport
Read more »
Elon Musk's SpaceX prepares to launch mammoth Starship rocket later todaySpaceX is counting down to its test flight today of Starship, the most powerful rocket ever built, designed to send astronauts to the Moon and Mars and beyond
Read more »
Eoghan Corry: Dublin Airport is going to need a third terminalDublin Airport’s proposed Terminal 1 extension can reduce the pressure in the short term – but a third terminal will soon be needed. Eoghan Corry on BKNT
Read more »
European tourist visits to outrageously expensive Dublin are declining because our capital has an ambience issueUna Mullally: European tourist visits to outrageously expensive Dublin are declining because our capital has an ambience issue
Read more »