SIAC to move head office out of Clondalkin

SIAC to move head office out of Clondalkin

By Maurice Garvey

SIAC Construction Group, are to sell it’s head office at Monastery Road in Clondalkin, as part of the ongoing restructuring of the firm.

Agents CBRE are seeking in the region of €5 million for Dolcain House, described as a purpose built office property with excellent transport links and specification.

SIAC HQ Clondalkin September 2016

Building and engineering company Siac, earned profits of €1.3 million in the months following it’s restructuring in early 2014.

Siac was restructured in 2014 after its owners, the Feighery family, along with a group of other shareholders, invested €10.5 million in the business as part of a rescue plan put together by the High Court appointed examiner, Michael McAteer of Grant Thornton.

The Monastery Road site consists of three interlinked blocks with a gross internal area of 6,784 sq m (73,023 sq ft). The net lettable floor area is 5,301 sq m (57,066 sq ft).

Dolcain House has flexible floor plates that can be easily sub-divided to suit various requirements with suites available from 186 sq m (200 sq ft).

The subject property is part of Siac Construction head quarters office complex.

One of the three segments, Block B, with a floor area of 1,692 sq m, is rented by the company on a five-year lease from February 2014, at a rent of €100,750, equating to €5.50 per sq ft.

The company will vacate the block if the purchaser requires the full volume of space.

New owners will have an option of renting 5,301 sq m (57,066 sq ft) in blocks A and C, along with 162 car parking spaces.
SIAC is renting a further 49 car spaces on its short-term lease.

CBRE say the two vacant buildings are fitted out to a high specification, including raised access floors, suspended ceilings, passenger lifts and a large staff canteen.

Dolcain House stands on a site of 1.92 acres and can be enlarged following the granting of planning permission in 2014 for an additional 258 sq m (2,777 sq ft) on the fifth floor of Block C.

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