Happy Easter
Wishing all our clients and friends a very Happy Easter from all the team at Bannon
Wishing all our clients and friends a very Happy Easter from all the team at Bannon
Despite the backdrop of Covid 19, Q1 turnover was a healthy €1.22bn, with 58% weighting to the residential sector. Strong demand in the sector for good product continues on a standing asset and forward commit basis. With restrictions on travel / viewings still in play the more traditional sectors have had a subdued quarter but should rebound later in the year. If you wish to discuss the quarter in more detail or general investment, please contact Rod Nowlan or David Carroll.
With vacancy levels for prime industrial stock reaching record lows and limited development opportunities available along the main arterial routes around the capital, agent Bannon expects to see strong demand for a 22-acre land holding fronting on to the M3 motorway.
Located next to junction 4, less than five-minutes’ drive from the M50 and 15km from Dublin city centre, the M3 Gateway site is fully serviced and offers the potential for a logistics/distribution or data-centre development of about 400,000sq ft (37,161sq m) subject to planning permission.
The land adjoining the site has in recent years been transformed by the development of two hyper-scale data centres by Facebook. Further data centres are situated nearby in Blanchardstown and Mulhuddart where Amazon Web Services is progressing a 223,000sq ft facility. The area has also proven to be popular among pharmaceutical and logistics companies, with MSD, Astellas, Helsinn Birex, Geodis and Masterlink all situated nearby.
The commuter towns of Dunboyne and Clonee are situated on the opposite side of the M3 with rail stations at Dunboyne and the M3 Parkway park-and-ride facility at Pace.
The land has direct road frontage on to both the M3 slip road and the Kilbride road. Notably services including mains drainage, water and gas supply pass through the southern portion of the site and are capped for future connection. The presence of these services is expected by the selling agent to enhance the prospects for the land when brought forward for development. The entire holding is zoned “enterprise and employment” and “warehousing and distribution” within the Meath county development plan.
The property is being offered for sale by tender on Thursday, May 6th at a guide price of €10 million.
Commenting on the sale, Niall Brereton, director at Bannon, said: “In addition to the terrific data-centre potential the lands at M3 Gateway offer institutional investors an unrivalled opportunity, subject to planning permission, to enhance the logistics/distribution allocation within their portfolios and capitalise on the significant demand amongst third-party logistics providers, pharmaceutical companies and online retailers for modern industrial stock within touching distance of the M50 and the city’s main arterial corridors.”
Happy St. Patrick’s Day to all our clients and friends from Ireland’s largest indigenous Commercial Property Advisor.
A shot from today’s Bannon town hall meeting. We simply can’t wait to get back to work with this great team in the non virtual world….
The dramatic improvement in the balance sheets of Irish Consumers in the last decade is astounding, savings are up 35% and debt is down 33%, a €70bn nett turnaround. The potential for a positive impact on the retail sector post reopening is clear, the question is where will the money be spent. We are modelling the potential impact on the different retail sub-sectors and expect to see a very different outturn to the 2013 recovery.
With the rollout of Covid-19 vaccines now under way, the owners of Blanchardstown Centre are gearing up for the return of significant numbers of shoppers to its stores, with three additions to the west Dublin outlet’s food and beverage line-up.
Having played host in 2018 to US donut giant Krispy Kreme’s most-successful opening globally, Blanchardstown has added boutique coffee house The Art of Coffee and specialist donut brand Off Beat to its offering. They will be joined later this year by gourmet burger chain Bunsen.
The Art of Coffee’s unit is its first in a shopping centre and is located at the red mall entrance beside BT2. The new 65sq m (700sq ft) store was added as part of the same development that saw German supermarket chain Aldi open a new 2,200sq m (23,680sq ft) store last December. Off Beat’s new store is located near Dunnes Stores in the green mall.
Bunsen’s new restaurant will be located immediately next door to Krispy Kreme. Extending to 190sq m (2,045sq ft), it will represent the popular chain’s first foray into a shopping centre since its establishment in 2013.
Commenting on the decision of the three brands to locate at Blanchardstown Centre, Sharon Walsh, leasing director at Falcon AM, said: “All three brands are best in class and Irish-owned. We are delighted that when they looked at growing their businesses in these challenging times, Blanchardstown was their destination of choice. These new additions will appeal to a broad demographic and enhance and compliment the already-wide food and beverage offering at Ireland’s largest shopping and leisure location.”
BNP Paribas and Bannon are the joint leasing agents at Blanchardstown Centre.
Joint agents CBRE and Bannon are guiding a price of €2.5 million for lands zoned for the development of retail and residential in the commuter town of Dunboyne, Co Meath.
The subject site extends to 3.54 acres and is located at the centre of the town, to the rear of St Peter and Paul’s church and immediately adjacent to the new SuperValu development. Dunboyne train station is situated 1km from the property. The front section of the site is currently in use as a car park, while the rear section is under grass.
The site is located in an area zoned “B1 town/village centre” under the draft Meath County Development Plan 2020-2026. It is also identified as a “retail opportunity site” OS 1, under which additional retail development for the town could be accommodated. Residential development is also permitted under the current zoning objective.
Dunboyne is a well-established residential location, with an abundance of amenities including sports clubs, shops, cafes and restaurants. There are several schools in the town, including Dunboyne Primary School, Gaelscoil Thulach na nÓg and St Peter’s College secondary school.
There are a number of employment hubs located within close proximity to the town, including Dunboyne Business Park, the IBM campus in Mulhuddart, Blanchardstown and Damastown Industrial Park, MSD and Facebook Clonee.
Dublin city centre is located just 18km from Dunboyne and is readily accessible via the M3 motorway. In terms of public transport, Dunboyne train station offers a regular service to Dublin each day, with a travel time of about 30 minutes to the Dublin Docklands station. There are also in excess of 30 Dublin Bus services per day.
Darragh Deasy of CBRE’s development land division says: “This is a rare opportunity to acquire a development site in one of Meath’s most desirable residential locations. The subject site has terrific development potential, subject to planning permission, and should appeal to a wide pool of purchasers.”
Niall Brereton, director at Bannon, adds: “Dunboyne has been identified as a strategic development area within the Dublin Metropolitan Area Strategic Plan. Given the central location of these lands, they offer undoubted potential to develop a mixed-use scheme, subject to planning permission.”
Hambleden House
19-26 Pembroke Street Lower
Dublin 2
D02 WV96
Ireland
»Map
Phone: +353 (1) 6477900
Fax: +353 (1) 6477901
Email: info@bannon.ie