Tuesday 21 November 2017

Unit at Stadium Industrial Park for €100,000 per year

Knight Frank is seeking annual rent of €100,000 for this warehouse at Stadium Business Park
Knight Frank is seeking annual rent of €100,000 for this warehouse at Stadium Business Park
Peter Flanagan

Peter Flanagan

Knight Frank is seeking €100,000 per annum for a warehouse at Stadium Business Park in Ballycoolin outside Dublin.

The bonded warehouse is available immediately, and the rent equates to an estimated €6.50 per sq ft.

Stadium Business Park is located in the area of Ballycoolin, and adjoins two of Dublin's most established distribution locations, Northwest & Rosemount Business Park. These estates are home to major occupiers such as Wincanton; GLS; Harvey Norman; Masterlink Logistics, Java Republic and Glanmore Foods.

The subject property comprises a modern detached warehouse of 1,418 sq.m. The building is has a steel portal frame with an insulated metal deck roof. The facade comprises mass concrete infill walls with profile metal cladding to the perimeter of the property.

Knight Frank claim the property benefits from an office and showroom fit-out to the front. Loading access is through two roller shutter doors, leading onto a yard. The property has a clear internal height of 9.2m, rising to the 11.3m at the apex.

James Smith, who is running the leasing process, believes the unit "offers an excellent opportunity to lease a modern industrial facility in one of Dublin's most established industrial locations.

"Given the relative supply shortage of units to purchase or rent in this area, particularly in the 1,000 - 2,000 sq m range - there is likely to be considerable interest in leasing the property.

"Some modern units in the Ballycoolin area are seeing quoting rents in the region of €8 per sq.ft, so renting the unit would allow a tenant to take advantage of a competitive rental level for the next few years, before rental levels increase to their market norm of €8.50 per sq.ft."

According to CBRE, Demand for prime industrial sites is being fuelled by an increase in demand for greenfield design-and-build solutions from occupiers that are frustrated by the scarcity of supply of modern accommodation along primary road networks.

CBRE believe there is potential for a notable spike in prime rental values over the coming quarters.

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