New owner in line for 9.5% return on investment from strong tenant line-up
Block 2 at Blackrock Business Park in south Dublin extends to 27,678sq ft and has 71 car-parking spaces. Photograph: Tony Healy Photography
Block 2 briefly comprises a standalone three-storey office building extending to 2,571sq m with 71 car-parking spaces. The property has strong sustainability credentials, with a Ber rating within the B1 to B3 range with scope for further improvement. The tenant line-up comprises Identigen and Becton Dickinson, with a weighted average unexpired lease term of about four years to break and 10 years to lease expiry.
Identigen is an Irish food safety and traceability company with operations in Ireland, Britain, continental Europe and the United States. In 2020, the company was acquired by Merck subsidiary MSD Animal Health in a multimillion-euro deal. Becton Dickinson, meanwhile, is one of the largest medical-technology companies in the world.
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