Biotech firm adds to prime offices leased in Cherrywood

The rent is likely to be about €215 a square metre (€20 a square foot)

Block G2 in Cherrywood

Block G2 in Cherrywood

 

Applied Process Consulting is to lease 5,574sq m (60,000sq ft) of prime office space in one of two buildings owned by the Dún Laoghaire-Rathdown Council-owned DLR Properties at Cherrywood in south Dublin.

APC signed a lease on 2,787sq m (30,000sq ft) of space at Block G2 in Cherrywood late last year and is now taking the same amount of space again, according to Conor Whelan of agent QRE, who handled the letting.

The rent is likely to be about €215 a square metre (€20 a square foot).

Rents for grade-A office space in the south suburbs have risen from about €15- €16 a square foot in 2013 to €23-€25 a square foot today.

DLR Properties owns and manages block AA (60,000sq ft) and Block G2 (120,000sq ft) at Cherrywood.

The ground and first floors in block G2, which extend to a combined 5,574sq m (60,000sq ft), are available to rent through joint agents QRE and BNP Paribas Real Estate at €269 per square metre (€25 per square foot).

Significant holding

Glen Luas

It recently made a submission to the council setting out its vision of a development framework for its key town centre site which could accommodate up 1.4 million sq ft of space in this fast-growing location between the M50 and N11 just south of Ballybrack.

APC was founded in 2011 and provides process engineering services to the pharmaceutical and chemical sectors.

It services eight out of the top 10 pharmaceutical companies in the world and five of the top 10 biotech companies in the world.