Wednesday 21 February 2018

Buyers negotiate 10pc discounts at Swords

Discounts of 10pc and over have been secured by four buyers who renegotiated deals for the purchase of commercial units at the newly completed Swords Enterprise Park.

Deals for each of the four units were originally agreed in 2008/2009, but these were reviewed and renegotiated in recent months, following the economic downturn.

Quantum Scientific Ltd, which specialises in gas analysis and detection, originally agreed a purchase price of €380,000 but this was subsequently renegotiated, resulting in a 12.36pc reduction in the final price paid.

It acquired a 1,388sq ft enterprise unit, Unit E4, with its space split evenly between office and warehousing accommodation.

The other three purchasers are SL Graphics, Feltrim Construction and TMS, which supplies equipment to taxis.

They acquired own door warehousing units and in the renegotiations secured average discounts of 10pc.

Jones Lang LaSalle, which are the agents for the developers, say that quoting prices and rents have also been reduced for all remaining units in the enterprise park and own-door office units can now be purchased for €160,000 and light industrial units for as little as €175,000.

Rents in the park start at €8,800 a year or €170 a week.

Ellney Ltd, headed by Peter Cagney, developed the park which overlooks the M1. In addition to enterprise and light industrial units, the park also provides own-door offices and sizes range from 45sqm to 153sqm (484sq ft to 1,647sq ft).

Since the beginning of this year new tenants moving to the park include Smart Bin, Tone @ Home, Acacia Facilities Management, WeSource Consulting, Elite Blinds, Unipos, Cartridge Warehouse, National Garden Services, and Northside Gas Services.

"A key attraction is that the park is the only development in a modern and convenient North Dublin location which offers own-door office and enterprise facilities," says Greg Clarke of JLLS.

Other attractions are the design, high-spec finishes and modern landscaped setting, coupled with its close proximity to Dublin Airport, the Port Tunnel, Dublin Port, the M1 and the M50.

Drinan Enterprise Centre, owned and operated by Fingal County Council, occupies a 2,322sqm area in two separate blocks.

Irish Independent

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