Cookstown Quarter in Tallaght was bought for €19m in 2022
€19m Cookstown Quarter reaches its full occupancy
M7 Real Estate Ireland has reached full occupancy at Cookstown Quarter in Tallaght, following a substantial investment in the 2.87-hectare (7.1-acre) estate’s industrial and commercial units.
In a statement, the group, a subsidiary of the pan-European investor, M7 Real Estate, said that the site, which it paid €19 million for in 2022, was repositioned with modern occupier expectations.
The mixed-use site was formerly known as the Cookstown Collection and the tenant line-up includes Howdens, Uisce Éireann, CEF, FBT Gyms, House of Padel, Hunt Office Supplies, WH Scott and Kearys of Belgard.
The units taken range in size from 780sq m (8,396sq ft) to 2,573sq m (27,697sq ft), with rents achieved in excess of €11 per sq ft on long-term full repairing and insuring (FRI) leases.
M7 undertook an extensive refurbishment programme which included the removal of more than 100 tonnes of asbestos, installation of new insulated panels, the overcladding and renewal of elevations, replacement of obsolete electrics, the modernisation of office space, and the installation of new windows and LED lighting.
Nicola Gilleece of Cushman & Wakefield, who acted on behalf of M7, said: “I’m delighted that we have now reached 100 per cent occupancy. Tallaght continues to be a prime location for industrial and trade-counter occupiers.”
James Smith, director at M7 Ireland, said: “We are delighted to complete what has been a comprehensive and significant asset management plan.
‘We have established a destination for trade-counter occupiers; positioning an obsolete and former showroom-service centre block into a multiple-use facility that includes a vehicle service centre, a company HQ and leisure uses that include a gym and padel courts.”
