Citywest purpose built office building sold for €10 million

By Brendan Grehan

FINE Grain Property, the business park operator and investor has bought 3013 Lake Drive in Citywest Business Campus. 3013 Lake Drive is a three-storey 38,000 sq ft purpose-built office building.

It was sold by Davy Hickey Properties for around €10m.

3013 Lake Drive Citywest Business Campus compressor

The purpose built building sold for €10 million in Citywest Business Campus

Part of the building is let to a number of companies including pharma firms Takeda and Valeant, a subsidiary of Bausch health.

The other part is operated as serviced offices which had been trading as Citywest Business Centre.

The Prem Group is operating the serviced office space on behalf of Fine Grain Property.

A Spokesman for Fine Grain Property said: “We are delighted to add Citywest, one of Dublin’s largest and best-serviced business parks, to our workplace community across Ireland.”

There are over 160 multinational companies operating out of Citywest Business Campus, as it is a key location for Foreign Direct Investment into Ireland.

The campus has a wide variety of facilities for the employees that are based there.

Office rents range between €21 and €24 per sq ft or about a third of those in the city centre.

Fine Grain Property has expanded its portfolio over the last three years to 15 properties worth a combined €180m and with more than 920,000 sq ft of workspace.

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