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Industrial / Commercial unit empty - what to do with it ?

  • 12-06-2009 9:14am
    #1
    Humblepie
    Registered Users, Registered Users 2 Posts: 94 ✭✭


    Hi Guys,

    Just looking for some advice / ideas...
    Basically, we ended up owning a newly built industrial / commercial unit as part of a deal some two years ago. The property is empty the last year and at this stage is atin alot of grass as the man says.
    Its located in a Meath town a stones throw from Dublin. There is about 6 other units in the development and its off the main road. Size is approx 3,500 sq ft, on two floors. Estimated value was approx 500k two yrs ago. Reckon we'd let it rent for 25k pa, even 20k at this stage - think thats about 7 or 8quid a sq ft. Given the state of the economy, we dont know what to do. The unit could be suitable for likes a carpenter/ tradesman / retail / light industrial / storage etc.

    Question is if you were in this situation , what would you do ? Just throwing it out there....Any comments / ideas appreciated.


Comments

  • #2
    subway
    Closed Accounts Posts: 6,131 ✭✭✭subway


    maybe you'll get a better repsonse in the entrepeneur forum?
    http://www.boards.ie/vbulletin/forumdisplay.php?f=106


  • #3
    trad
    Closed Accounts Posts: 2,696 ✭✭✭trad


    Think outside the box. Here's some ideas.

    Indoor skateboard arena

    A specific craft area ie. musical instrument makers. Most need large / expensive equipment but with a few working together costs ccould be shared.

    DIY car maintenance. Put in a few ramps and associated tooling and hire out ramps / equipment per hour / day. A lot want to do their own work but don't have access to ramps etc.


  • #4
    johndaman66
    Registered Users, Registered Users 2 Posts: 4,099 ✭✭✭johndaman66


    Humblepie wrote: »
    There is about 6 other units in the development

    Are any/all of these units occupied?


  • #5
    Humblepie
    Registered Users, Registered Users 2 Posts: 94 ✭✭Humblepie


    johndaman66 wrote: »
    Are any/all of these units occupied?

    Yep, there are about 3 / 4 of them occupied. thx


  • #6
    Humblepie
    Registered Users, Registered Users 2 Posts: 94 ✭✭Humblepie


    subway wrote: »
    maybe you'll get a better repsonse in the entrepeneur forum?
    http://www.boards.ie/vbulletin/forumdisplay.php?f=106

    Thanks Subway....posted in entrepreneur forum.


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  • #7
    TheBigGuy
    Closed Accounts Posts: 43 ✭TheBigGuy


    Humblepie wrote: »
    Hi Guys,

    Just looking for some advice / ideas...
    Basically, we ended up owning a newly built industrial / commercial unit as part of a deal some two years ago. The property is empty the last year and at this stage is atin alot of grass as the man says.
    Its located in a Meath town a stones throw from Dublin. There is about 6 other units in the development and its off the main road. Size is approx 3,500 sq ft, on two floors. Estimated value was approx 500k two yrs ago. Reckon we'd let it rent for 25k pa, even 20k at this stage - think thats about 7 or 8quid a sq ft. Given the state of the economy, we dont know what to do. The unit could be suitable for likes a carpenter/ tradesman / retail / light industrial / storage etc.

    Question is if you were in this situation , what would you do ? Just throwing it out there....Any comments / ideas appreciated.

    7-8 quid may be a bit strong, you should really be thinking along line lines of €5 per sq ft with a view to doing a deal at less, you can get space at this level in dublin 12,10,24 and out along the naas road. IMO


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