Parexel move to former Amazon space in Kilmainham

Pharmaceutical company to rent two floors at €279 per sq m

Paraxel are renting two floors at 1 Kilmainham Square, Inchicore Road in Kilmainham, Dublin 8.
Paraxel are renting two floors at 1 Kilmainham Square, Inchicore Road in Kilmainham, Dublin 8.

Replacement tenants have been found for most of the office space vacated by Amazon last July at 1 Kilmainham Square, Inchicore Road in Kilmainham, Dublin 8.

Parexel, the international pharmaceutical company, has agreed to rent 2,786sq m (30,000sq ft) over two floors of the ultra-modern building which was developed by John Lally’s Lalco company.

The new tenant, advised by DTZ Sherry FitzGerald, is to pay a rent of €279 per sq m (€26 per sq ft) under a 10-year lease with a break option at five years.

Agent CBRE is also believed to have agreed letting terms with a worldwide company which is to occupy the ground floor at a slightly higher rent.

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Lalco occupy a suite on the top floor, sharing the space with Klas Telecom which rents about 557sq m (6,000sq ft).

The renewed demand for modern office space in the suburbs underlines the shortage of similar facilities in the city centre.

Jack Fagan

Jack Fagan

Jack Fagan is the former commercial-property editor of The Irish Times