Sunday 18 August 2019

Range of commercial sites to help Brexit businesses

Donal Buckley

Donal Buckley

Developer McWilliams Group has launched a wide range of commercial property sites at its new business campus known as Dundalk North in Co Louth, which could suit businesses seeking to locate close to the Border in preparation for Brexit. The campus has planning permission for over 1.3 million sq ft of industrial, logistics, warehousing and office units, the largest of which could extend to 240,000 sq ft.

Joint agents CBRE and Property Partners Laurence Gunne say the sites can range in size from two to 92 acres and the logistics buildings can rise to 14 metres.

Prices will be based on specific site sizes and requirements but that should be about €250,000 per acre. Those compare with prices of between €350,000 and €500,000 per acre for sites in Dublin.

Jarlath Lynn of CBRE says sites will be sold on a fully serviced basis with flexibility to cater for various uses and sizes given the significant scale of the subject lands.

"Coupled with this some parties may require the developer to undertake additional works such as fencing and site works which will mean tailored pricing. Larger sites will naturally be more competitive but at present it is a reasonably blank canvas so discussions will dictate pricing and site splits," Mr Lynn adds.

Purchasers also have the option of commissioning their own builder or availing of McWilliams' services.

Headed by Sean McWilliams, the McWilliams Group has up to now focussed mainly on residential developments with projects in the north west of Ireland and France.

The campus is accessed directly off the R177 within 5km of Junction 18 of the M1 motorway It is about 2km north of Dundalk town centre and about one hour's drive from both Dublin and Belfast with their ports and airports.

In addition to the existing planning permission the current zoning encourages a mixed variety of employment uses so owner occupiers and investors could also seek to develop premises such as vehicle sales outlets, retail and café uses.

In addition to one high-bay distribution unit of 22,210 sq m, it also has planning permission for three major warehouses ranging in size from 10,205sqm to 9,335sqm; 11 industrial units ranging from 955sqm to 2,005sqm; an enterprise centre and creche extending to a combined 5,875sqm; two office units of 5,875sqm and 6,430sqm; 16 wholesale warehouse showrooms; 18 lock-up units; 24 incubator office units of 265sqm each and 37 incubator warehouses ranging in size from 295sqm to 400sqm.

Mr Lynn says that already Dundalk has seen some Brexit-related occupier activity, most notably the move there by Almac pharmaceutical company. Other manufacturers are also considering it. IDA's Finnabair industrial estate is well occupied and Irish Life is building new offices.

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