Business

Mallusk industrial investment opportunity comes to market

This industrial site at Mallusk has come to the market as an investment opportunity

A MAJOR industrial investment opportunity in Mallusk has been brought to market by commercial property agents Lisney.

The 36,000 sq ft property comprises a modern two-bay warehouse and interconnecting office accommodation, and is currently occupied by Zeus Packaging Group, which has just committed to a new 10-year lease from the date at which the sale completes.

Offers in excess of £1.7 million are invited for the asset which, located to the rear of Central Park in the prime industrial area of Mallusk, boasts a large yard and parking area for 38 vehicles as well as a development site of approximately 0.4 acres within the 2.5 acre holding.

Stephen Chambers, associate director at Lisney, said: “The new commitment from the tenant is a great positive, both the location and facility work really well for Zeus Packaging.

"The additional development potential on site presents an added opportunity for the incoming purchaser, and we expect strong levels of interest in this asset."

Zeus Packaging is involved in the sale and distribution of packaging material to a variety of sectors ranging from pharmaceutical companies to, food processing industries and major retail outlets.

Mr Chambers added: “Earlier this month Lisney's first quarter Northern Ireland commercial property report revealed that already this year more than a million sq ft of industrial space has transacted.

“Given that just over just over 2.1 million sq ft of industrial space was transacted in total in 2017 and with healthy supply levels at present, we would expect industrial volumes for 2018 to remain strong.”

Obel 68, some 52,000 sq ft of grade A office space arranged over basement, ground and six upper floors adjacent to the Obel Tower, was also brought to the market by Lisney this month with offers in excess of £15 million invited.

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