INVESTMENT Bank of Ireland has secured a tenant for a newly-developed industrial unit at Furry Park, Santry, Dublin 9. Distribution and warehousing company Premier Logistics has leased the premises at around £6 per square foot. The investment will provide a yield of around 9 per cent for IBI, which bought the building from Rohan Holdings. Seven buildings with a total of 240,000 square feet have now been completed in Furry Park, leaving only one unit of 35,000 to be completed.
Bill Tuite of Jones Lang Wootton handled the letting for IBI. Mr Tuite is also to bring to the market shortly industrial sites on a 100-acre holding owned jointly by Green Properties and the local authority at Fonthill Road, Clondalkin, Dublin. The land is expected to accommodate about 1.5 million square feet of buildings, some of which are likely to be developed by Green Property. Sites are expected to sell for around £140,000 per acre. Land at the front of the site will cost more.
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