Athlone industrial property and site on market at €7.3m guide price

An industrial premises on the Moydrum Road in Athlone, along with a site adjoining it, has gone on sale at a guide price of €7.3 million.

The property is being brought to the market by JLL, which described it as an attractive investment and development opportunity.

The premises, which extends to approximately 10,324sq m (111,000 sq ft), is fully let to Heat Merchants on a 10-year lease from June 2022, with a current passing rent of €450,000 per year.

JLL pointed out that it is situated in an established industrial location, just off junction nine on the M6, and offered a strong tenant profile, attractive yield and significant development potential.

Adjoining the premises is a site of about 2.3 hectares (5.7 acres), which is also being offered for sale, thereby presenting additional opportunities for development. The site is zoned for 'employment and enterprise' uses under the Athlone Town Development Plan, 2014-2020

Ollie Lyons of JLL confirmed that the €7.3m guide price for the Heat Merchants property included the 5.7 acres of adjoining lands.

He said the preference was to sell both the industrial premises and the adjoining site as a single lot, but that offers to purchase them as separate lots would also be considered.