One of the best remaining development sites in Sandyford Industrial Estate in Co Dublin is to be sold by tender on April 19th. The l.6 acres currently occupied by the MJ Flood premises are expected to make in excess of £5 million when they are sold by Hamilton Osborne King.
Unlike some other sites which have come on the market in Sandyford, this one has full planning permission for 167,000 sq ft of offices which can be sub-divided into separate units. The six-storey building will have a double-level penthouse and a basement car-park to accommodate 339 cars.
Green Property is well advanced on a speculative development of 350,000 sq ft on an adjoining site formerly occupied by Alert Packaging. The letting agents are targeting a number of major companies planning to relocate to a suburban site.
Mr Paul McNeive of Hamilton Osborne King said the MJ Flood facility is "without doubt the best site in Sandyford". It occupies a prominent corner location opposite the area earmarked for a LUAS light-rail station. MJ Flood, which plans to relocate to City West in west Dublin, has indicated that it may be prepared to take a minority stake in the office scheme planned for its site.
The redevelopment of the Sandyford estate, now well under way for several years, is likely to be accentuated by the recent decision of Dun Loghaire Rathdown County Council to change its development plan to allow office-based companies.
Earlier this month, the Swedish cosmetics company Oriflame also offered for sale a site of 5.7 acres along Blackthorn Drive. Morrissey's estate agents are quoting a guideline price of £2 million an acre for the L-shaped site, which has 134,000 sq ft of buildings.
