Savills News

Park Developments secures pre-let on 50,000 sqft logistics facility

Savills & CBRE report that Park Developments’ Logistics Division has secured a pre-letting of Unit 629 Northwest Logistics Park, Ballycoolin, Dublin 15. 

Savills & CBRE report that Park Developments’ Logistics Division has secured a pre-letting of Unit 629 Northwest Logistics Park, Ballycoolin, Dublin 15. The 50,000 sqft, 15m high logistics facility was completed in June this year as part of the first phase of a new €35 million logistics development at Northwest Logistics Park. The building has been pre-let on a 20 year lease incorporating a 15 year break option.

Park Developments also has planning permissions in place for six logistics facilities in the Northwest Logistics Park totalling approx. 21,650 sqm (233,000 sqft) with unit sizes ranging from 1,394 sqm (15,000 sqft) up to 7,254 sqm (78,000 sqft). Park Developments have also lodged planning applications for a 9,044 sqm ( 97,350 sq.ft) and a 5,400 sqm ( 59,400 sqft) hi-bay logistics facilities to bolster the range of unit sizes on offer at Northwest Logistics Park. A decision to grant has just been received from Fingal County Council for the 9,044 sqm facility.

On the back of the pre-let of Unit 629, Park Developments have now commenced construction on Unit 633 Northwest Logistics Park which comprises approx. 3,716 sqm (40,000 sqft) including 370 sqm (4,000 sqft) of high quality offices. The proposed facility will be finished to the highest specifications and has a clear internal height of 15m, 4 loading bays, 2 no. automated insulated sectional doors 5m high by 4m wide and a generous yard depth of 35m.

Northwest Logistics Park is one of Dublin’s premier and most established logistics locations. The park is within 200m of the N2/N3 link road which provides dual carriageway access to the N2 (J3) & N3 (J2) routes and J5 & J6 on the M50 which provides motorway access to all of the main arterial routes from Dublin, to Dublin International Airport and the Port Tunnel.

Park Developments is one of the most established and successful developers of logistics space in Ireland for over thirty years. Successful developments include M50 Business Park in Ballymount which includes Fashion City, Ireland’s only dedicated fashion wholesale destination. Other recent developments include Northwest Business Park, Ballycoolin, Dublin 15 and Northern Cross Business Park, North Road, Dublin 11 where over 1.4 million square feet of logistics space has been developed. Consequently, Park Developments has gained an excellent reputation for its professionalism and the delivery of high quality space on time and within budget.

According to Dick Cuddihy of Park Developments, “We are delighted to secure a pre-letting on Unit 629 and we now look forward to the next phase of development at the scheme and to further pre-lets in 2019 / 2020.”

According to joint agents Savills and CBRE, “Northwest Logistics Park is a well - managed development and is already host to a number of leading international occupiers including DB Shenker, DSV & Wincanton, amongst others. Its pivotal location within close proximity of the major road networks serving Dublin, the airport and the Port Tunnel has been key to attracting market leading occupiers over the last 20 years.”

Unit 633 will be ready for occupation in Q1 2020 and is available to lease at an annual rent of €390,000 (exclusive of VAT) or to purchase. Buildings on the remaining sites with planning permission can be provided to occupiers’ requirements for sale or lease or alternatively buildings up to 50,000 sqm can be provided on a design and build basis.

Recommended articles