Office MarketWork continues apace at The Park, Carrickmines, the huge retail/office park being put together by Park Developments. Phase two, a 7,500sq m (80,729sq ft) five-storey office block, is set for completion in January 2007.
The Herbert Building is the cornerstone of the business quarter at The Park. Its development follows the successful completion of phase one at The Park where retail investments were sold last summer for €104 million to Warren Private Clients.
The Park will be developed over four distinct phases, says Roland O'Connell, director of Hamilton Osborne King, agent for the development.
The first phase of the retail element is fully let with all tenants trading. These include 53 Degrees North, an outdoor lifestyle store; Home Focus at Hickey's; Smyth Toys; Currys; Halfords; PC World; Classic Furniture; and Costa Coffee, which opened two months ago.
Construction of retail phase two has just begun. This will include eight units of retail warehousing and non-convenience retailing comprising 11,800sq m (127,014sq ft). This will be serviced by free underground and surface car-parking and is due to open in spring 2008.
There are also plans to build an additional block within this phase incorporating a bar/restaurant, a café and office space overhead.
The next building coming on stream is adjacent to the Herbert Building and includes a convenience store, restaurant and coffee shop. The own-door office accommodation follows and the retail services will be trading in time for these office tenants when they move in.
These last two phases are with the planners but it is expected that construction work could get underway early next year, says O'Connell.
The Park is on a 50-acre site adjacent to exit 15 on the M50. When complete, it will cover more than 74,322sq m (800,000sq ft).
A high standard of accommodation has been provided for at The Park, both in terms of the building specifications but also the surrounding infrastructure, says O'Connell. For example, the developers are installing granite rather than concrete kerbing, and this high standard of investment will be carried throughout the entire development.
The development gains from being alongside the M50. It is also 500 metres from the proposed Ballyogan Wood Luas station on the Sandyford to Cherrywood Luas extension that will be operational by about 2010. In the intervening years a bus service will link the development to the Luas Green Line terminus.
The focus at The Park is on the completion of phase two, the Herbert Building, says O'Connell. "The current phase is due for completion in January," he says.
The Herbert Building is a €40 million scheme where the agent is quoting rents of €295 per sq m (€27.50 per sq ft).
The building is a striking combination of glass and stone designed by Traynor O'Toole Architects. Attention has been paid to ensure that it has been future-proofed for the soon-to-be-introduced building energy ratings. It features a high performance energy efficient double glazed curtain wall system, and is designed to achieve a BREEAM rating of "good", a level significantly above the industry average, according to the agent.
"The Herbert Building will set a new standard in the market with its classical design, flexible internal layout, the sustainable finishes and its excellent location," says O'Connell. "The Park, Carrickmines is the highest quality new mixed-use business park on the south side of the city."
