A new tenant will pay rent of €160 a sq m (€14.86 per sq ft) to landlord Davy for modern office space on Blackthorn Road in Sandyford.
BNP Paribas Real Estate handled the letting of Block C in the Ravenscourt scheme to Innopharma Labs which will occupy the complete 1,750sq m (18,837sq ft) block and 15 car-parking spaces.
The 15-year lease has break options at years seven and 12 and a rent-free period was offered as an incentive to the tenant.
Innopharma Labs specialises in training multi-skilled personnel to integrate into both operations and engineering environments within the biopharmaceutical industry.
It already has an office in Q House on Furze Road in Sandyford.
Ravenscourt consists of four office blocks in the centre of Sandyford Office Park. It was occupied by Airtricity until 2013 before it moved to the Red Oak building in South County Business Park.
The Innopharma Labs deal is the second significant letting in Ravenscourt in the past 12 months.
Chill Insurance relocated its call centre in October 2014 to 2,400sq m (25,833sq ft) in Block B.
Around 75 per cent of the space at Ravenscourt is now fully let.
Joint agents BNP Paribas Real Estate and Quinn Agnew are marketing the last remaining two blocks (D and E) at Ravenscourt which both extend to 760sq m (8,180sq ft) and could easily be combined to give 1,520sq m (16,361sq ft) of lettable space. Both blocks come with plenty of basement car-parking.
Keith O’Neill of BNP Paribas says this year“has seen a marked in increase in enquiries for offices in Sandyford with a number of companies outgrowing their existing offices and seeking larger buildings to facilitate their expansion requirements.
“Mars Ireland, for example, moved in August from their old offices in Burton Court to the Chase Building in Sandyford.”