OfficeSector The Citywest Business Campus in Dublin's western suburbs continues to attract high tech companies with two new pharmaceutical company lettings and another taken by telecoms provider Meteor.
Rents remain strong with initial lettings at €230 per sq m (€21.36 per sq ft) and €575 per car-parking space, and €265 per sq m (€24.62 per sq ft) and €625 per car-parking space for the most recent letting at Citywest.
"These lettings are further proof of consistent demand in quality suburban locations," says Fionnuala O'Buachalla of Jones Lang LaSalle.
Pharmaceutical newcomers are Shire Pharmaceuticals and the Danish firm Lundbeck. Shire is a speciality pharmaceutical firm that moved to Citywest from Damovo House closer to the city. It has taken 1,008sq m (10,850sq ft) of high-spec office accommodation on the second floor of 5 Riverwalk.
Lundbeck specialises in psychiatric and neurological drugs and is leasing 728sq m (7,836sq ft) in 7 Riverwalk, relocating from Deansgrange.
Meteor is expanding at Citywest, taking a new lease of part of the ground floor and all of the first floor in 5 Riverwalk. It comprises 1,527sq m (16,436sq ft).
All these lettings are on long term 25-year leases, generally incorporating a break option at year 10.
Another firm undergoing expansion on campus is Smart Telecom. It has taken an additional 575sq m (6,189sq ft) of office space on the first floor of 3018 Lake Drive. The company only recently signed a lease on the ground floor of this same block.
Jones Lang LaSalle is now marketing 6 Riverwalk, a four-storey corporate headquarters extending to 5,753sq m (61,925sq ft). There are also small suites of 493sq m (5,307sq ft) and 746sq m (8,030sq ft) available on Riverwalk with rents quoting at €260 per sq m (€24.15 per sq ft) and €650 per car-parking space per annum.
