Developer expects record rent for high-tech space

PARKWAY Developments expects to achieve a record rent of £8.50 per square foot for new high-tech business space in its latest development, Parkway House, off Lower Ballymount Road, Dublin 12. Caleb Kyle of Hamilton Osborne King says the concept shows an increasingly thin line between the office and industrial sectors of the market and offers occupiers, the opportunity to centralise under one roof". Parkway, which is run by Michael McDonnell and Ray Magowan, is building four units of 9,400 square feet with a two-storey, fully-fitted, open-plan office accounting for 65 per cent of the entire space. The units may be combined to provide four different sizes up to 37,600 square feet. HOK says the rent of £8.50 and the selling price of £85 per square foot is "highly competitive".