Land bank at Tyrrelstown, Dublin 15 for €5.25m

Dublin, 24 October 2016 – CBRE have been instructed to offer a significant land holding measuring approximately 13.08 hectares (32.4 acres) at Tyrrelstown, Dublin 15 to the open market by way of Private Treaty.

The lands, available in one or more lots, lie adjacent to the Carlton Hotel and immediately east of Tyrrelstown District Centre. Bristol Myers Squibb, a global pharmaceuticals manufacturer, is situated to the south of the lands where a 30,000 sq m state-of-the-art biologics manufacturing facility is under construction which when completed will accommodate an additional 400 staff.

Tyrrelstown is within close proximity of Damastown Industrial Estate, one of Dublin's largest industrial estates, which includes a major IBM campus. Additional commercial employers in the area include IBM, PayPal and Welocalize.

Access to the property is provided directly off the recently constructed N2/N3 link road. This new dual carriageway connect the N3 at Blanchardstown to the M2 at Cherryhound via Tyrrelstown and the Ratoath Road. A new internal road structure for a larger land holding has been constructed and access is due to be provided adjacent to the Carlton Hotel.

The subject site, zoned High Technology under the Fingal Development Plan 2011 - 2017, is positioned on a prominent corner location fronting onto the recently constructed N2/N3 link road, within easy access to Blanchardstown, Dublin Airport and the main arterial routes off the M50. Part of the property benefits from full planning permission, FW12A/0106, for the development of a petrol filling station and a drive thru restaurant extending to a total floor area of approximately 718 sqm.

CBRE are quoting a guide price of €5.25 million for the entire land holding.

Peter Garrigan, Senior Surveyor, Development Land
The continued development and expansion of Tyrrelstown clearly demonstrates the commercial viability and appeal of the area. With the expansion of the Bristol Myers Squibb facility and the upgrading of the N2/N3 link road we believe this land has the capacity to deliver a significant quantum of accommodation for high tech manufacturing and logistic operators.
Peter Garrigan, Senior Surveyor, Development Land

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

In Ireland, with offices in Dublin and Belfast, CBRE is the country’s largest commercial real estate services company, now employing over 165 employees and offering a full range of property services including property sales and acquisitions, leasing and management, investment, corporate services, debt advisory, project management, consultancy, business rates and compulsory purchase, valuations and research. Please visit our website at www.cbre.ie or www.cbre.ie/ni.