£5m of warehouse/office space sold at Finglas Centre
Some £5 million worth of warehouse/office space has been sold in the first phase of Finglas Business Centre in Dublin, while three units have already been rented in the second stage, which has just been launched and is under construction. Units in Phase 2, which comprises Blocks 3 and 4 of the centre, will be completed in July. The £16 million centre will have 200,000 sq ft in seven blocks, with a total of 51 warehouses and two-storey offices.
The centre is on Jamestown Road, a short distance from the M50's Finglas interchange, and has achieved prices of approximately £85 per sq ft. Units in Phase 2 range from 3,500 sq ft to 7,250 sq ft and in price from £300,000 to £605,000.
"This is an ideal location for small industrial units, siting them close to the M50 and at a competitive price compared to other areas near the Dublin ring road, which are quoting up to £100 per square foot," said Mr Nigel Healy of Jones Lang LaSalle, joint agents for the development with Lisney.
Meanwhile, Tibotec Pharmaceuticals and Virco Ireland have leased 16,500 sq ft of offices in Blanchardstown Corporate Park in Ballycoolin, Dublin 15. The companies are paying rents of £12.50 per sq ft. A further 20,000 sq ft has been reserved by a software company. About one-third of the one million sq ft of buildings planned for the park have already been completed.