€9m for block near Shannon Airport

Power & Associates is quoting €9m for a 15-year-old office block occupied by Intel and the Indian outsourcing company Wipro close to Shannon Airport. The four-storey Grade A block extends to 7,522sq m (80,966sq ft) is currently producing rents of €1.1m. About 68 per cent of the rent comes from Intel which has its main Irish operation in Leixlip, Co Kildare. The five leases held by Intel and Wipro are due to run out in 2021 and 2028.

The modern office block was developed by Brookvale Trust who also developed other office schemes in the Limerick area.