Belfast Telegraph

Dublin estate seeking post-Brexit NI tenants

Commercial Property

By Rachel Martin

The agent for a Co Dublin business park has said he is "inundated" with calls from Northern Ireland firms seeking continued single market access post-Brexit.

McGarrell Reilly is advertising units to let at CityNorth Business Park outside Dublin.

The 200-acre business park has space for industrial, office and leisure use and is just off the M1 Dublin/Belfast motorway.

The park is around a half-hour drive from Ireland's largest city and a 17-minute drive from Drogheda in Co Louth, which could make it an attractive EU base for Northern Ireland firms.

It follows the decision by pharmaceutical firm Almac to set up a facility in Dundalk, which it has said was prompted by the need to secure access to the single market following Brexit.

Almac told a House of Commons committee that it had not been in a position to wait and see the outworkings of the UK departure from the EU.

The company said it had instead decided to open up a facility in Dundalk to provide reassurance to export customers that its access to the single market would continue following Brexit.

John Carrigan of Cushman & Wakefield, who are acting as agents for CityNorth Business Park, said he had noticed an increase in activity within the park, particularly from Northern Ireland companies.

He said this was largely due to the UK's preparations to leave the EU, but added that many Northern Ireland companies were also looking to improve links with the Republic.

He said: "The park provides for a centralised hub on Ireland's primary route and offers the opportunity to design business and warehousing accommodation to company's specific needs.

"Also, with the uncertainty surrounding the Brexit referendum, we have experienced an increase in demand for space coming from companies seeking to maintain their EU passport rights by relocating outside of the UK.

"For any company looking to relocate in the wake of the Brexit referendum, or simply has expansion plans in mind, CityNorth provides a perfect alternative."

Mr Carrigan added that the site was located strategically for those looking to export.

He said: "With 90% of Ireland's GDP exported and over 40% passing through Dublin Port, City North provides a direct link to the Port Tunnel without having to pass over the congested M50 motorway. For end users, this has significant cost-saving benefits in terms of reduced travel times and fuel costs."

Other occupiers at the park include English vending machine company Pelican Rouge, Millmount Healthcare, Hanley Energy, Scottish veterinary diagnostic firm BCF Technology and laboratory equipment supplier Focus Scientific Solutions.

The property is currently on the market with joint agents Cushman & Wakefield, Kelly Walsh and Robert B Daly.

The size and specification of the units depends on the end user's requirement, with units available on a design and build basis.

Prices are expected to start at around €8.50-9.50 (£7.35-£8.22) a square foot to let for a year.

The developer is looking to work with future occupiers of the business park to design their units and has properties available both for sale and to let.

Belfast Telegraph

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