Atlantic to anchor Lakepoint

Construction work is to begin shortly on the retail warehousing element of Lakepoint Retail & Business Park, in Mullingar, which is due to start trading next November. Atlantic Homecare is to lease the anchor unit of 30,500 sq ft at a rent of almost £11 per sq ft. Another unit of 13,000 sq ft is to be occupied by a furniture retailer and negotiations are ongoing with an electrical group on a 10,000 sq ft store.

This will leave only one unit of 9,000 sq ft in the first phase. A further 24,500 sq ft of space is to be provided in the second phase in sizes from 5,000 sq ft.

Joint agents Gunne and Hamilton Osborne King are quoting rents of £12 to £12.50 per sq ft for the smaller units.

Lakepoint is being developed by Daracom, the company headed by Sean McKeon, which is also to start work this autumn on a 25,500 sq ft high tech office block. It will be available to rent at £13 per sq ft, depending on the specification required. The park, located on one side of the Mullingar bypass at the junction of the N4 and the N52, will have 100,000 sq ft of office accommodation, 270,000 sq ft of light industrial/ technology space and 82,000 sq ft of retail warehousing.

Daracom has sold all 86 three-bedroom and four-bedroom houses in the first phase of a housing development beside the park. Many of the houses were bought by Dublin commuters who either drive to the city or use the frequent rail service.