For Sale / To Let - 2 High Quality Production/Office Facilities in Prime Estate
Unit BC1 & BC2, Ballycoolin Business Park, Dublin 15
Dublin 19th June 2018 – Property advisors CBRE are delighted to offer two high quality detached production/office facilities in the established Ballycoolin Business Park to the market.
Both properties were occupied by IBM as call centres however they are separately owned. Clyde Real Estate headed up by Sean Gallagher owns unit BC1 while IBM own unit BC2.
The timing of the respective sales is entirely coincidental but does offer an interesting opportunity to the market particularly for larger requirements given that the units are side by side and up until recently were interlinked. The subject park is home to significant household names including Xerox, PayPal, Symantec and Keppel Data Centres.
BC1 extends to 3,953 sq m (42,551 sq ft) on a low-density site of 3.09 acres while BC2 extend s to 7,977 sq m (85,874 sq ft) on 4.7 acres. Both properties are laid out as open plan call centre spaces with ancillary standard offices and facilities. Unit BC2 was most recently vacated in December 2017 and is presented in excellent ‘ready to occupy’ condition. Both properties are readily capable of returning to industrial use subject to planning permission.
The units are likely to be of significant interest to the data centre business given that there are three data centres within 200m of the subject properties along with one further existing and two proposed data centres within 500m. The excellent fibre connectivity in the area coupled with the expansion potential of both sites mean that they are suited to this type of use.
Unit BC1 is guiding a sale price of €2,500,000 exclusive while BC2 is €5,500,000 exclusive. Both units can also be leased on new FRI leases.
It is a great opportunity to purchase well-constructed buildings with expansion potential within a very established and well serviced estate. There is presently a severe lack of all types of industrial stock in the market and the subject properties are available to purchase at prices well below replacement costs. Equally some occupiers may wish to continue the existing use of the buildings as office/ call centre space. Ultimately there are numerous potential buyers for either or both properties and will be interesting to see what use will place the highest value on same.