Ryanair challenges Dublin’s sky-high office rents with low-cost Airside

Airside Green space available for €27.50 per square foot, less than half the rate in CBD

An artist’s impression of Airside Green, which is under development at Airside Business Park.

An artist’s impression of Airside Green, which is under development at Airside Business Park.

 

It has long been known as Europe’s largest low-cost airline, but now it seems Ryanair is looking to stake its claim within Dublin’s hugely competitive office sector by offering state-of-the-art accommodation to the market at less than half the €60-plus rents being sought in the city’s central business district.

Agent Colliers International is quoting a price of just €27.50 per square foot for space at Airside Green, the 120,000sq ft (10,730sq m) facility Ryanair is in the process of delivering next to its headquarters at Airside Business Park in Swords.

Due for completion in spring 2020, the property will accommodate occupier requirements ranging from 18,000sq ft to 120,000sq ft of modern office space, alongside amenities which will include a running track, coffee shop and restaurant with an outdoor terrace and relaxation area. The new block will have a BER rating of A3. The building will also provide occupiers with 200 car-parking spaces, 25 e-charging points, 200 bicycle-parking spaces, and 43 showers with locker facilities.

Ryanair acquired the Airside Green site in 2012 as part of its €11 million purchase of its headquarter premises from Airside Business Park’s owner and developer, David Daly.

Airside Business Park is well-located within a short drive of Dublin Airport, the M1 and M50 motorways, Dublin Port Tunnel and Dublin city centre. The scheme is also adjacent to the proposed Metro North station at Airside, which will offer commuters further choice and convenience.

The adjoining Airside Retail Park meanwhile offers a mix of food and beverage, lifestyle, retail, entertainment and leisure amenities, including Costa; Chopped; Five Guys; TGI Fridays; Starbucks; Premier Inn and FLYEfit gym.

Existing office occupiers at Airside Business Park include Ryanair, AIB, Fujitsu, Ingersoll Rand, the HSE and Kellogg’s.

Paul Finucane of Colliers International says: “With a lack of supply of quality space to accommodate requirements in the 20,000sq ft (2,000 sq m) bracket, we expect to see interest from existing northside occupiers looking to upgrade from dated or obsolete offices into a more contemporary and energy-efficient solution.”