Offers over €5m sought for west Dublin industrial site
Published 11/06/2015 | 02:30
Knight Frank have been retained as agents over an industrial facility in west Dublin that is on the market for more than €5m.
The former Uniphar facility on the Belgard Road is a large industrial and office unit on a site of nearly nine acres.
The property comprises a large detached warehousing facility and separate self-contained office block on a site of approx. 8.6 acres.
The warehouse is of steel frame construction under a metal deck roof.
The facility benefits from eight dock levellers that front onto what Knight Frank describe as a "generous" yard area to the north of the building with capacity for ample parking.
There is also a separate dispatch area that has four standard grade roller shutter doors.
The main warehouse area benefits from an eaves height of approximately 9.3 metres. The main industrial building contains a reception area and offices over two levels. There are also toilet and canteen facilities on both levels.
The property is zoned Objective CT under the South Dublin County Council (SDCC) Development Plan 2010 - 2016, that is "To protect, improve and provide for the future development of the County Town of Tallaght."
Predominant uses that are permitted in principle under this zoning include: car parking, education, enterprise centre, hospital, hotel or motel, industry or light, motor sales outlet, offices, petrol station, residential, retail warehouse, discount food store, major sales outlet.
According to Knight Frank's James Smith, "the subject property is likely to be of strong interest to a variety of purchasers including owner occupiers and those interested in redeveloping the site.
"As the generous zoning parameters allow higher value uses on site such as car showrooms, the high profile location would very much appeal to car showroom occupiers particularly with the current supply shortage of such units.
The subject property occupies a high profile location fronting the Belgard Road in Tallaght, immediately south of the Belgard Retail Park.
The property is approximately 1.8km from the M50 - Ballymount (J10) interchange and approx. 4.0km from the M50 / N7 Naas Road (J9) interchange.
The property benefits from excellent public transport links and is in close proximity to the Belgard Luas stop on the Luas Red Line which is around half a kilometre from the property, whilst a number of Dublin Bus routes also service the area.
Other prominent occupiers in the vicinity include Tallaght Institute of Technology, Burger King, Home Store and More, said Mr Smith.
"Recent transactions in the locality for similar spec facilities with less favourable zoning are realising approximately €30.00 per sq.ft whilst lands zoned general employment are achieving approximately. €400,000 per acre.
The potential uses permitted on site in conjunction with the ongoing economic & market recovery should encourage offers similar to / above previous interest levels in excess of €5m.
"Similarly, in a spate of recent market transactions, there is also likely to be good interest from industrial users in line with a continuing trend in demand for larger facilities of close to 100,000 sq ft," Mr Smith added.