ICC bank to finance business park
Another business park is to be developed alongside the M50 in west Dublin. ICC Bank and Bymac Development are to build about 140,000 square feet of commercial buildings to cater for small to medium-sized firms over the next 12 months.
ICC Bank is providing 100 per cent of the finance for the Riverview Business Park, which will be a joint venture between the bank and Bymac. The first phase of 36,000 square feet will have units varying in size from 1,200 to 4,000 square feet. Leo Roche, divisional manager for property lending in the ICC, estimates that about 70 per cent of the space will be bought by owner-occupiers. There was currently a shortage of good quality accommodation for these companies. The units will be aimed primarily at firms involved in distribution and light industry.
The park will be developed on an eight-acre site acquired from South Dublin County Council for around £900,000. The entrance to the site will be off the Nangor Road. The park will be run by a management company and all the occupants will qualify for membership.