Rent of €9.25 per square foot at Baldonnell facility
By Maurice Garvey
AGENTS for Ireland’s largest ever speculative development of logistics buildings in Baldonnell Business Park, are quoting a rent of €9.25 per sq ft for the first block under construction.
UK developer Mountpark, who bought the 35-acre site in 2015, has begun construction of the first of three detached buildings at the new logistics hub.
Mayor Paul Gogarty at the sod turning of the Mountpark Baldonnell site
When completed, the €40 million state-of-the-art hub is expected to deliver approx 1,000 jobs.
The 360,000 sq ft buildings planned for the newly named Mountpark Baldonnell Park, will be located opposite Citywest Business Park, off the N7.
The first block, extending to 118,891 sq ft along with a two-storey office building to the front, will be ready for fit-out by October.
The second phase, which is of interest to a possible tenant, will have two adjoining logistics buildings, each with a floor area of 120,333 sq ft, including two-storey office blocks to the front with floor areas of 4,467 sq ft.
The third buildings will feature clear internal eaves heights of around 12.5m, while loading access will be via 10 dock levelers and four standard-grade access doors to the rear elevations.
Speaking at the sod-turning last month, Philip O’Callaghan, of Mountpark said they are confident of letting out the units, citing a “good level of demand from multi-nationals and Irish-based companies.”
Economic boost
O’Callaghan said that the development would be a magnet for investment in South Dublin County, and would provide a significant economic boost to the county.
“We have taken the plunge to really up the spec quality of our buildings to make them suitable for companies not in Ireland at the moment,” he said.
Baldonnell Business Park was developed by SIAC in the late 1990s and subsequently acquired by the John Cutts-led Big Box Logistics firm.
It is now home to many well-known companies, including MJ Flood, Jaguar Land Rover, DAF Distributors Ireland and McGuire Haulage.
According to the recent CBRE Ireland Outlook 2018 report, the prospects for the Irish commercial property market remain very promising.
However, they said economics, tax and politics will continue to have a huge bearing on the trajectory of the market over the next 12 months.
With regard to the industrial and logistics sector, CBRE said this area will firmly move into the development phase of the cycle during 2018 with new industrial and logistics facilities due to be delivered and corresponding uplift in transactional activity anticipated.
The entire development is expected to be ready for business in June 2019.
