With vacancy levels for prime industrial stock reaching record lows and limited development opportunities available along the main arterial routes around the capital, agent Bannon expects to see strong demand for a 22-acre land holding fronting on to the M3 motorway.
Located next to junction 4, less than five-minutes’ drive from the M50 and 15km from Dublin city centre, the M3 Gateway site is fully serviced and offers the potential for a logistics/distribution or data-centre development of about 400,000sq ft (37,161sq m) subject to planning permission.
The land adjoining the site has in recent years been transformed by the development of two hyper-scale data centres by Facebook. Further data centres are situated nearby in Blanchardstown and Mulhuddart where Amazon Web Services is progressing a 223,000sq ft facility. The area has also proven to be popular among pharmaceutical and logistics companies, with MSD, Astellas, Helsinn Birex, Geodis and Masterlink all situated nearby.
The commuter towns of Dunboyne and Clonee are situated on the opposite side of the M3 with rail stations at Dunboyne and the M3 Parkway park-and-ride facility at Pace.
The land has direct road frontage on to both the M3 slip road and the Kilbride road. Notably services including mains drainage, water and gas supply pass through the southern portion of the site and are capped for future connection. The presence of these services is expected by the selling agent to enhance the prospects for the land when brought forward for development. The entire holding is zoned “enterprise and employment” and “warehousing and distribution” within the Meath county development plan.
The property is being offered for sale by tender on Thursday, May 6th at a guide price of €10 million.
Commenting on the sale, Niall Brereton, director at Bannon, said: “In addition to the terrific data-centre potential the lands at M3 Gateway offer institutional investors an unrivalled opportunity, subject to planning permission, to enhance the logistics/distribution allocation within their portfolios and capitalise on the significant demand amongst third-party logistics providers, pharmaceutical companies and online retailers for modern industrial stock within touching distance of the M50 and the city’s main arterial corridors.”
