Investment & Development Opportunity:
Units 1, 2 & 3 Lear Avenue & Part Site No. 28, Waterford Airport Business Park, Co. Waterford.

Overview:
An exceptional opportunity to acquire a substantial income-producing industrial investment together with an adjoining development site in a uniquely strategic location immediately adjacent to Waterford Airport within The Airport Business Park.
The property comprises three attached industrial units incorporating extensive ground and first-floor office accommodation, together with part the proportionate section of Site No. 28 to the rear, extending to approximately 0.12 hectares (0.30 acres). The industrial units provide a combined floor area of approximately 850 sq. m. (9,147 sq. ft.) and are currently let under a new five-year lease at an annual rent of 67,000 per annum exclusive.
Located on Lear Avenue, the property is directly adjacent to the curtilage of Waterford Airport and enjoys a prominent position overlooking the airport and runway. This exceptional location places the property at the heart of the anticipated commercial and economic activity associated with the airport's major expansion.

Investment Highlights
• Three modern industrial units with extensive office accommodation
• Approximately 850 sq. m. (9,147 sq. ft.) in total
• Currently producing 67,000 per annum
• Let under a new five-year lease
• Adjoining development site of approximately c. 0.12 hectares (0.30 acres)
• Directly adjacent to Waterford Airport and facing the new runway
• Established industrial and commercial location
• Significant potential for long-term capital appreciation
• Development potential, subject to the necessary planning permission
• Ideally positioned to benefit from the expansion of Waterford Airport

The Industrial Units:
Units 1, 2 and 3 comprise a substantial industrial building arranged as three individual units. The property is of modern steel-frame construction with profiled insulated metal cladding and incorporates warehouse and storage accommodation together with a particularly generous provision of ground and first-floor offices.
The warehouse areas offer large, open-plan working spaces suitable for a wide variety of industrial, manufacturing, distribution, aviation-support or storage uses. Vehicular access is provided through individual roller shutter doors, while separate pedestrian entrances serve the office and staff accommodation.

The units benefit from an extensive fit-out that includes private offices, open-plan office areas, reception and circulation space, kitchens, toilets and staff facilities. The first-floor accommodation provides additional office space suitable for administrative, management, technical or training functions.

Externally, the property has extensive hard-surfaced areas providing convenient loading, circulation and on-site parking. Its end-of-terrace position affords additional access and operational flexibility along the side and rear of the building.

Unit 1:
Unit 1 occupies the end section of the building and includes a spacious warehouse area with roller shutter access to the side. The unit contains an extensive office component arranged over two floors, incorporating private and open-plan offices, a kitchen, toilets and staff facilities. The mixture of industrial and administrative accommodation makes the unit particularly suitable for a business requiring warehouse, technical and office functions within a single premises.

Unit 2:
Unit 2 comprises a substantial open-plan industrial or warehouse area with independent roller shutter access from Lear Avenue. Its largely open configuration provides adaptable accommodation suitable for storage, assembly, production or distribution purposes. The unit forms the central section of the building and can operate independently while also complementing the adjoining accommodation within Units 1 and 3.

Unit 3:
Unit 3 comprises further warehouse accommodation together with a significant office and staff element. The ground floor includes offices, kitchen and sanitary facilities, while the first floor provides an additional large office area. Independent pedestrian and roller shutter access is provided to the front, with parking and loading immediately outside the unit.
Floor Area

The three units have a combined approximate floor area of: c. 850 sq. m. (9,147 sq. ft.) All measurements are approximate and are provided for identification and marketing purposes only.

Tenancy and Income:
Units 1, 2 and 3 are currently let under a new five-year lease, producing a combined rental income of 67,000 per annum. The existing tenancy provides an immediate income stream, making the property an attractive proposition for investors seeking a commercial asset with established rental income and longer-term potential for capital growth. Lease details available upon request.

Part of Site 28 Development Site:
The sale also includes part of Site 28, extending to approximately 0.12 hectares (0.30 acres).
The site is positioned immediately to the rear and side of the industrial units and benefits from frontage and access within the established road network of the business park. The generally level site offers scope for additional commercial or industrial development, an extension of the existing premises, additional yard space or uses associated with the future operation of the airport, subject in all cases to the necessary planning permission.

The combination of an existing income-producing property and adjoining development land provides a purchaser with considerable flexibility. The site may be retained for future capital appreciation, developed independently or incorporated into the existing property to facilitate further expansion.
Strategic Airport Location

Waterford Airport Business Park is situated beside Waterford Airport at Killowen, c. 10 km south-east of Waterford City and within convenient reach of Tramore, Dunmore East and the wider South-East region.

The subject property occupies one of the most strategically significant positions within the park. It is immediately adjacent to the airport lands and faces directly towards the runway, offering potential advantages for companies involved in aviation, logistics, engineering, maintenance, technology, freight, aircraft services or other airport-related activities.
The business park already accommodates a diverse range of industrial and commercial occupiers and benefits from a purpose-built internal road network, generous site layouts and convenient access to Waterford City and the regional road network.

Waterford Airport Expansion:
Waterford Airport is undergoing a major redevelopment intended to support the return of scheduled commercial passenger services to the South-East. The approved programme provides for the existing runway to be extended to approximately 2,287 metres and widened to approximately 45 metres, enabling the airport to accommodate larger commercial jet aircraft. Construction of the runway project commenced in May of this year and is fully underway.
The expanded runway is intended to provide the infrastructure required for direct air connectivity between Waterford and destinations in Britain and continental Europe. The eventual destinations, airlines and commencement of scheduled services will remain subject to airline agreements, regulatory approvals and commercial demand.

In addition to passenger travel, the airport's redevelopment has the potential to support corporate aviation, aircraft maintenance, air-freight, logistics, training, tourism and other aviation-related services. Improved air access would also strengthen Waterford and the wider South-East as a location for foreign direct investment, indigenous enterprise and internationally focused businesses.

Potential Benefits to Waterford Airport Business Park
The expansion of Waterford Airport has the potential to significantly enhance the profile and commercial importance of the adjoining business park. The return of scheduled jet services could increase demand for industrial buildings, offices, logistics accommodation and sites capable of supporting aviation and airport-related activities.

Businesses located within the park may benefit from improved regional accessibility, proximity to direct international air services and increased passenger, employee and commercial activity. Properties positioned closest to the airport lands and runway should be particularly well placed to benefit from the longer-term development of the airport and its ancillary services.

The subject property therefore represents more than a conventional industrial investment. It combines immediate rental income with development land in a location capable of benefiting from one of the most significant infrastructure projects proposed for Waterford and the wider South-East.

Investment Rationale:

Units 1, 2 and 3 Lear Avenue, together with part of Site 28, offer a compelling combination of:
• Secure existing rental income
• Modern and adaptable industrial accommodation
• A substantial office component
• An adjoining development site
• A highly strategic position beside Waterford Airport
• Potential for rental and capital growth
• Exposure to the anticipated expansion of aviation and ancillary commercial activity in the area

The property is offered for sale in one lot, with full tenancy and title information available upon request. For further information, please contact Sole Selling Agents, DNG Reid & Coppinger on 051-852233.

BER: C3
BER No: 800648131
Energy Performance Indicator: 542.28