Both Irish and international investors are expected to run the rule over the sale of a fully let office investment in Oranmore Business Park, Galway. Unit 6, Ard Oran, comes to the market fully let to US-headquartered tech giant Cisco at a guide price of €8.5 million through agent TWM. Should a sale proceed at that level, the new owner would be in line for a net initial yield of 9.52 per cent, rising to 10.32 per cent following a fixed rental uplift from November 2027. The yields assume the payment of standard purchaser costs of 9.96 per cent.Built in 2007, the subject property comprises a modern office building of four storeys over a basement level. The property, which extends to 4,867.5sq m (52,393sq ft) excluding the basement, is occupied in its entirety by Cisco Systems Internetworking Ireland Ltd under the terms of a 25-year full repairing and insuring (FRI) lease effective from November 2007. Following a recent lease restructuring, the tenant’s remaining tenant-break option was removed, resulting in an unexpired lease term of approximately 6.2 years. The investment is currently generating €890,000 in annual rental income, with a fixed rental increase to €965,000 a year from November 2027. Cisco is a global company specialising in networking, security, collaboration, data-centre technologies and the Internet of Things (IoT). Headquartered in San Jose, California, the company employs more than 86,000 people worldwide and generates annual revenues in excess of US$60 billion (€51.4 billion). Cisco has operated in Ireland since 1999 and maintains large operations in both Dublin and Galway. Sarah Winters, who is handling the sale on behalf of TWM, says: “We expect to see interest from both national and international investors looking for a solid high-income return. Over six years’ secure income from a great tenant is a very attractive opportunity. The €8.5 million guide price equates to an underlying capital value of approximately €162 per sq ft, which is considerably lower than the reinstatement cost of the building.”