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Spar secures Clondalkin units for €1.2m per annum

One of the largest industrial lettings of the year was seen recently when Units D & E Kilcarbery, Industrial Estate, Clondalkin, Dublin 22, were let to BWG, the Spar retail and distribution group, for their national distribution centre.

It is believed that the overall rent was in the region of €1.2m or around €54 per sqm.

Extending to almost 22,205sqm, this is a purpose built distribution facility that is currently owned in partnership by three separate funds: Salix, F&C Reit and Aviva.

It was previously let to a UK distribution company, which exercised a break option about 12 months ago and the owners decided to fully refurbish the property.

A detached building, it is capable of sub-division into two separate units, one of 11,950sqm and the other of 10,255sqm.

Nevertheless, the agents, Jones Lang LaSalle, decided to offer the entire property as a single lot on the basis that there was no other high quality distribution unit available in the market.

"This strategy proved successful," says Nigel Healy of JLL.

The new lease is for a 20-year term with a break option and the overall rent was in the order of €1.2m per annum.

Within the overall space, Unit D has 721sqm of dedicated office space over three storeys and Unit E 212sqm of dedicated office space. The depth of the yard ranges from 37 to 45 metres.

Located between the Naas Road N7 and N4 Galway motorways, Kilcarbery offers rapid access to the M50 and is an established location for many logistics and distribution companies including C&C.

Indo Property