Rohan Holdings' decision to proceed in the midst of the Covid-19 pandemic with the speculative development of just over 120,000sq ft of industrial and logistics space at Dublin Airport Logistics Park (DALP) would appear to have delivered an early dividend for the company.
Having appointed Eamon Costello (Kerry) Ltd to deliver the 68,815sq ft (6,393sq m) Cardinal House and 51,288sq ft (4,765sq m) Crane House at the scheme last September, Rohan has secured a tenant for the latter property in advance of its scheduled completion in the final quarter of this year.
The Irish Times understands that Fisher Scientific Ireland, a subsidiary of US-headquartered life science specialists, the Thermo Fisher Scientific Group, has agreed to occupy Crane House in its entirety on a 10-year term-certain lease at a rent of €10.45 per sq ft. Separately, it is understood that Cardinal House, which is under construction currently, has attracted a significant level of interest from a number of potential occupiers.
Located on a 1.64 hectare (4.04 acre) site immediately adjacent to existing units occupied by leading retailer Harvey Norman and airline caterer Gate Gourmet, Crane House will, upon completion, comprise an LEED-accredited high-bay warehouse of 45,904sq ft (4,265sq m) and office accommodation extending to 5,384 sq ft (500sq m) . The building will feature a clear internal height of 12m, five dock levellers and 50m yards.
Speculative development
While Rohan Holdings has a long-standing record for embarking on speculative development, its decision to proceed with the delivery of Crane House and Cardinal House last September was informed by the strength of letting activity across its various schemes over the previous 12 months. When taken together, the company secured occupiers for some 250,000sq ft (23,226sq m) of space during the period.
Dublin Airport Logistics Park is widely acknowledged within the logistics sector as one of Ireland's foremost locations. Situated less than a two-minute drive from the M50 and the country's wider motorway network, 250m from Dublin Airport's campus, and 2km from the Dublin Port Tunnel, the scheme is already home to a number of leading companies such as DHL, GeoPost, Gilead, DNATA, Gate Gourmet and Holland & Barrett.
