One of the best high specification warehouse distribution centres in Ireland has come on the market following the merger of the Allegro distribution group with Gillespies, a subsidiary of Fyffes, the fruit importers.
Agents Finnegan Menton are likely to secure about £500,000 for the leasehold interest in the three-year-old complex, which has 86,665 sq ft of space at the Sandyford industrial estate in south Dublin.
The high bay warehouse includes 11,500 sq ft of offices in a two-storey block. The warehouse has a "super flat" floor which allows full height racking to be used. There are 12 loading doors and an eaves height of 36 ft. The landscaped grounds of 3.8 acres has a designated car-parking area as well as a loading zone.
The whole complex is owned by New Ireland and it is rented out at £430,000 under a lease which has another 22 years to run. Finnegan Menton are expecting strong interest in the buildings because distribution warehouses of this quality rarely come on the market in Ireland.
Sandyford continues to consolidate its position as one of Dublin's principal business locations. The area will benefit greatly from the opening of the Southern Cross and the South Eastern motorway which will complete the M50 ring road.
Earlier this year, Allegro secured in excess of £10 million for another warehouse of 140,000 sq ft on about seven acres on an adjoining site at Sandyford.
It was bought by a consortium which includes property developers Richard Barrett, John Ronan and David Arnold and is likely to be redeveloped for offices.
