Parexel move to former Amazon space in Kilmainham

Replacement tenants have been found for most of the office space vacated by Amazon last July at 1 Kilmainham Square, Inchicore Road in Kilmainham, Dublin 8.

Parexel, the international pharmaceutical company, has agreed to rent 2,786sq m (30,000sq ft) over two floors of the ultra-modern building which was developed by John Lally’s Lalco company.

The new tenant, advised by DTZ Sherry FitzGerald, is to pay a rent of €279 per sq m (€26 per sq ft) under a 10-year lease with a break option at five years.

Agent CBRE is also believed to have agreed letting terms with a worldwide company which is to occupy the ground floor at a slightly higher rent.

Lalco occupy a suite on the top floor, sharing the space with Klas Telecom which rents about 557sq m (6,000sq ft).

The renewed demand for modern office space in the suburbs underlines the shortage of similar facilities in the city centre.