Parnells in €3.25m deal for new headquarters at Parkway Business Centre

The long-established wheel and specialist-tyre distributor Parnells is aiming for further growth across Europe and Scandinavia following its acquisition of a new and larger headquarter premises at Parkway Business Centre on Ballymount Road in Dublin 24. Paul Scannell of agent HWBC handled the €3.25 million purchase of Unit 6A, a 23,000sq ft facility from the receiver, Declan McDonald of PwC. Gavin Butler and Billy Flynn of Savills acted on behalf of the receiver.

Commenting on his company’s acquisition of the property, Parnells managing director Richard Parnell said: “The purchase of Unit A6 Parkway Business Centre is a very welcome move for us, we have been looking for suitable premises for the last two years and there really have been very limited options on the market.”

[ U2’s Bono and The Edge sell Clarence hotel to group owned by Paddy McKillen jnr and Matt Ryan ]

With Parnells planning to move to their new premises in early 2024, their existing premises at units 1 to 4 South City Business Park in Tallaght will be coming to the market with the benefit of vacant possession through Paul Scannell at HWBC at a guide price of €1.95 million. The units extend to a gross external area of 1,050sq m (11,300sq ft) with 24 car spaces and are capable of being divided if required.