Developers pay £10m-plus for Sandyford site

Marketing and distribution company Allegro has sold a warehouse of 140,000 sq ft on about seven acres at Sandyford Industrial…

Marketing and distribution company Allegro has sold a warehouse of 140,000 sq ft on about seven acres at Sandyford Industrial Estate for a price believed to be in excess of £10 million. The new owners are expected to redevelop the entire site for offices. Allegro has just completed the sale of the property to a joint venture company, which includes developers John Ronan, Richard Barrett and David Arnold. The same joint venture company has lodged a planning application for a development of 1.75 million sq ft of high-tech offices on a 20-acre site acquired from a religious order at Leopardstown Road. John Finnegan of Finnegan Menton acted for Allegro, which holds a long-term lease on an adjoining warehouse of 85,000 sq ft owned by New Ireland.