Ryanair swoops to bag a bargain at Airside Business Park
RYANAIR MAY be planning to relocate its HQ to Airside Business Park between Dublin Airport and Swords after agreeing to buy a completed office block for over €10 million. The airline’s office staff are based at the airport.
On the face of it the company would appear to be getting a bargain because when “The Concourse” block was developed during the boom by businessman David Daly the construction costs are likely to have been considerably higher than the price apparently negotiated by the airline.
The four-storey block has an overall floor area of 8,395sq m (90,363sq ft). Construction costs at the time it was built were generally acknowledged to be around €150 per sq ft before the site value is taken into account. On that basis, it would have been valued, at the very least, at over €13.5m.
Asked if Ryanair was transferring its headquarters to Airside, a spokesman replied: “Ryanair has a policy of never commenting on rumour or speculation.”
There was no comment from selling agent Jones Lang LaSalle.
Airside Park is one of the best located in north Dublin not only because of its proximity to the airport but also because it is a short distance from the M1 and the M50 motorways.
Other companies in the park include Kelloggs, Ingersoll Rand, AIB and Fujitsu. The business park adjoins the highly successful Airside Retail Park.