THE OWNER OF AN end-of-terrace warehouse building at Fashion City in the M50 Business Park at Ballymount, Dublin 24, has cut the asking price from €3 million to €1.6 million with the intention of securing an early sale.

The new valuation is 70 per cent lower than the purchase price paid nine years ago, according to Brendan Smyth of DTZ Sherry FitzGerald. Unit 12 extends to 3,075 sq m (33,101 sq ft) and includes a ground-floor showroom, office accommodation at first-floor level and warehousing to the rear.

The owner will also consider letting the building at a rent of €75 per sq m (€7 per sq ft).

Fashion City has been one of the great commercial successes in business parks in recent years, attracting all the major clothing agents and distributors. Its location beside junction 10 of the M50 has meant that it is not only accessible from the city but also from the various road networks used by fashion traders based in provincial cities and towns.

Unit 12 is in a high-profile loction at the southern entrance to Fashion City, just off Ballymount Rd Upper.