Overview

DESCRIPTION:

Block 4 Parkmore East comprises a 3-storey detached office building measuring a gross internal floor area of approximately 2,570 sq.m. (27,663 sq.ft) together with 94 surface car parking spaces.

The building was constructed in 2016 and the offices are fitted out to a high standard. The office accommodation comprises a mixture of modern open plan and cellular space.

LEASE DETAILS:

The entire property is occupied by Business Objects Software Limited (t/a SAP Solutions) subject to an F.R.I lease for a term of 8 years, 10 months and 4 days from the 1st March 2017, at a passing rent of €470,000 per annum.The lease is due to expire on the 4th of January 2026.

THE OPPORTUNITY:

This offers a purchaser the opportunity to acquire a modern office building, in Galway's prime suburban office precinct, leased to an excellent tenant, with reversionary potential at review.

LOCATION:

Parkmore Business and Technology Park is a high-quality landscaped business park, situated Approximately 6km north-east of Galway city centre, on the eastern side of Parkmore Road. Block 4 is in Parkmore East, where other occupiers include Oracle, Abbott, Fidelity, Merit Medical, Fotonation, etc.

The Park is in close proximity to the M6 Galway to Dublin motorway, via Doughiska to the south and readily accessible to the M18/M17 motorway, (linking Tuam to Ennis) via Exit 18 of the M6 motorway. Parkmore is the premier suburban office location in Galway and is a vibrant office centre populated by a range of multi-national companies, as well as being an emerging hub for life sciences.