Sunday 20 January 2019

JLL secures Cardinal Health for Red Oak North

Cardinal Health will occupy the third floor at Red Oak North in Sandyford in south Dublin
Cardinal Health will occupy the third floor at Red Oak North in Sandyford in south Dublin
Ronald Quinlan

Ronald Quinlan

Daniel Carty of JLL has secured Cardinal Health as tenants for the third floor of Red Oak North at South County Business Park in Dublin's Sandyford Business District (SBD).

Under the terms of the agreement, Cardinal Health will pay close to €30 per sq ft on a 15-year, full repairing and insuring (FRI) lease that contains a tenant-only break clause at the end of year eight. The tenant will also have the benefit of 23 car parking spaces, at €1,500 per car space.

The third floor of Red Oak North comprises 17,519 sq ft of premium office space within a business park that is already home to a number of leading international companies such as Microsoft, Icon, Accenture, SSE Airtricity and MSD.

South County Business Park is located in close proximity to the M50 and M11 motorways and the N11. The Green line Luas is also to be found within a five-minute walk of the premises.

Nearby amenities include Clayton Hotel, Baan Thai Restaurant and Westwood Gym and Leisure centre.

The popularity of the Sandyford Business District as a location is likely to grow further this year as companies seek out less expensive office accommodation than that available in the Dublin central business district (CBD). In its recently-published Outlook 2018 report, CBRE noted that headline rents in the CBD hit €700 per sq m at the end of 2017 - more than double the rate charged for office space in the suburbs. 0CBRE said it expects to see an increasing proportion of the capital's leasing activity taking place outside the city.

Sunday Independent

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