With a record 1 million-plus sq ft of take-up recorded in Dublin’s industrial and logistics sector in the first quarter, according to the latest figures, the delivery of a new 150,000sq ft headquarter facility to the market by Con McCarthy’s Sandymark group of companies is expected to see strong interest from both domestic and international occupiers.
No 34 Magna Avenue at Magna Business Park in Citywest is available for sale or to let through joint agents Harvey and JLL. While a guide price and rental rate have not been set for the property, market sources have estimated its sale value to be between €30 million and €37.5 million (€200 to €250 per sq ft) and its potential rent at about €12.50 per sq ft.
Full planning permission has been obtained for the subject property and discussions are already under way with several potential occupiers. The developer, Sandymark, through its various affiliate companies, was responsible for the development of most of Greenogue Business Park, totalling some 4 million sq ft of industrial and logistics properties.
No 34 Magna Avenue will, upon completion, comprise a state-of-the-art warehouse with 14 dock levellers, two level-access doors and a narrow-aisle capacity of 27,700 euro pallets or 21,900 on a wide-aisle basis. Externally, the subject property will have a generous marshalling yard with a separate gated entrance and 18 HGV parking bays. Both the warehouse and its ancillary headquarter office accommodation have a target accreditation of LEED Gold and an A3 Ber rating.
The scheme’s environmental features will include translucent roof and wall panels for natural light, high thermal performance cladding, an air-source heat pump, LED lighting, EV-charging points, grasscrete surfaced car parking spaces and full-height office glazing on three sides, providing a healthier, brighter working environment.
The subject property is positioned within a three-minute walk of a Spar convenience store and a creche, while Citywest Shopping Centre is a 10-minute walk away
No 34 Magna Avenue will occupy a high-profile position at the entrance to Magna Business Park, which forms part of the wider Citywest development. The scheme is located just two minutes’ drive from the N81, and four and eight minutes’ drive respectively from the N7 and M50 motorways.
In terms of amenities, the subject property is positioned within a three-minute walk of a Spar convenience store and a creche, while Citywest Shopping Centre is a 10-minute walk away. Citywest Shopping Centre is anchored by Dunnes Stores, while its wider tenant line-up includes a Fit4less gym, Costa Coffee, McDonald’s, Eddie Rocket’s, Baked Patisserie & Café, McCabes Pharmacy, Specsavers, a post office as well as hair and beauty outlets. The shopping centre also has its own Luas stop providing rapid access to Tallaght, Heuston Station and Dublin city centre.
Parties seeking further information on 34 Magna Avenue should contact Kevin McHugh at Harvey and Woody O’Neill at JLL.
