Savills reports that Park Developments’ Logistics Division has commenced construction on the first phase of a new €35 million logistics development at Northwest Logistics Park in Ballycoolin, Dublin 15. The project will create 120 jobs during the construction phase alone.
Park Developments Group recently secured planning permission for six logistics facilities 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).
Construction on the first of these buildings is currently underway. The proposed facility, Unit 629 Northwest Logistics Park, comprises approx. 4,646 sqm (50,000 sqft) including approx. 376 sqm (4,047 sqft) of high quality offices. The proposed facility will be finished to the highest specifications and has a clear internal height of 15m, 5 loading bays, 2 ground level roller shutter doors and a yard depth of 37m.
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 Group 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 by Park Developments Group 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 Group 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 Group:
“The logistics sector has witnessed strong levels of interest from occupiers in both the retail and parcel delivery sectors as a result of the surge in on-line sales throughout Ireland in recent times. This, combined with an all-time low vacancy rate of 3.2% in Dublin and continued growth in the more traditional sectors, means there has never been a better time to re-enter the logistics development market.”
According to Gavin Butler of the sole agents, Savills:
“Northwest Logistics Park is a well - managed development and is 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 629 will be ready for occupation by Summer 2019 and is available to lease at an annual rent of €475,000 (exclusive) or to purchase at €8.6 million. Buildings on the remaining sites with planning permission can be provided to occupiers’ requirements for sale or lease.