Industrial and logistics specialist Rohan Holdings, has secured two lettings at its latest Dublin development, South West Business Park, ahead of the delivery of its first phase.
With formal completion expected to take place within the coming weeks, the company is understood to have agreed deals for a total of 80,000sq ft with international tool and hardware distributor Toolbank and a leading provider of equipment to the healthcare industry. Both lettings are understood to have been agreed for in excess of €12 per sq ft and for fixed terms of at least 15 years. Agent Lisney acted for the landlord while Bannon and Blue Tile Property Consultants acted for the tenants.
The remaining accommodation available within the first phase at South West Business Park consists of two units of 60,000sq ft and 20,000sq ft respectively. In addition, planning permission and fire safety will comprise a single HQ-style building of 162,000sq ft. This property will include15,000sq ft of office space, alongside a 147,000sq ft warehouse with a clear internal height of 14m, a large secure yard with generous trailer parking and LEED-Gold sustainability certification.
South West Business Park is located within a minute’s drive of the M7 motorway and adjoining the Cheeverstown Luas stop in Citywest. Phase one comprises four high-profile high-bay warehouse facilities with prime offices, 12m-clear internal heights, dedicated yards, electric-vehicle charging facilities and LEED Silver sustainability credentials.
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South West Business Park is Rohan’s first development in south Dublin for a number of years. The company has been actively developing numerous business parks in north Dublin including Dublin AirPort Logistics Park and North City Business Park. Companies taking space at these two developments over the past 12 months include Nippon Express, Avantor, Bio-Techne, Primeline, Yourway and NEP Group. Planning permission is in place for more than 100,000sq ft of new space across the two schemes which will be commenced shortly, with the design of further phases being finalised.
Commenting on Rohan Holding’s recent letting activity, director John Casey, said: “With the warehouse sector having been particularly badly impacted by construction cost inflation over the past two years due to its exposure to steel price increases, quoting rents have had to increase accordingly, especially in the sub-40,000sq ft sector. We are currently working on several transactions with rents in the €13 to €15 per sq ft range for new, best-in-class buildings while smaller, older buildings in the sub-20,000sq ft category are already achieving these levels.”
