Latest news with #Ballycoolin
BreakingNews.ie
5 days ago
- Business
- BreakingNews.ie
Amazon pulls plug on €300m plant in Dublin that would have made over 500 jobs
Amazon has pulled the plug on a new plant in Dublin, which would have created hundreds of jobs. The tech company failed to secure an electricity connection, leading to it abandoning the plans for the €300 million manufacturing facility in Ballycoolin. Advertisement It comes after EirGrid warned of serious pressure on the national grid as demand increases. The facility, which had planning permission from Fingal County Council, would have manufactured server racks used in data centres. Amazon said it is disappointed the project cannot proceed, but that it hopes to be able to make other high-tech investments elsewhere in Ireland. Newstalk business correspondent Joe Lynam, said the 23,000sq/m site would have created more than 500 jobs. Advertisement "It's not a data centre, it's building these rack facilities for data centes, but it wasn't going to use as much energy as a data centre would," he said. "The National Development Plan, only out this week, is talking about €100 billion in the next five years in infrastructure. The need is absolutely urgent. "It's not gonna go ahead now and a lot of people will be saying: 'This is outrageous that this money, this investment, is just walking away'." ESRI energy economist, Dr Muireann Lynch, said the grid has been put under severe pressure in Dublin from data centres. "Which has pushed the demand in Dublin to unsustainable levels. However, it's not purely about the data centres," she explained. "We've had growing demand from all sorts of sectors and just haven't been able to keep up on the infrastructure side, and I suppose the chickens are coming home to roost at this point."
Irish Times
02-07-2025
- Business
- Irish Times
French fund pays €12.8m for Dunnes Stores warehouse facility in Dublin 15
UK Reit New Frontier Properties is understood to have secured about €12.8 million from the sale of a prime logistics building at Stadium Business Park in Ballycoolin, Dublin 15. The sale of Unit 1, which is let to Dunnes Stores , to a French fund was completed last week. New Frontier acquired the property, for its part, in October 2017 for €8.65 million. At the time of its purchase, the 7,287sq m (78,441sq ft) detached industrial/warehouse headquarters was occupied by Viking Direct (Ireland) Ltd, a global company forming part of Office Depot (one of the largest suppliers of office stationery in the world), on a 20-year full repairing and insuring (FRI) lease from August 24th, 2007, at a rent of €743,518 per annum. Following its acquisition, New Frontier oversaw a significant refurbishment of the property before letting it to Dunnes Stores on a new long-term lease. Dunnes occupies the building, which sits on a 3.65-acre site, under the terms of a full repairing and insuring lease for 15 years from March 2022, incorporating a tenant break option in March 2032. The annual passing rent is €775,000, and the first rent review is due in March 2027. The new owner stands to secure a net initial yield of 5.5 per cent on their investment. Unit 1 is at the entrance to Stadium Business Park, an established logistics scheme that offers occupiers quick access to the N3 and the M50 motorway. READ MORE The property has a clear internal height of 39ft (12m), eight dock levellers, two level-access doors, an ability for HGVs to circulate the building, dedicated trailer parking and a passenger lift. The sale of Unit 1 was handled by industrial specialists Harvey. BNP Paribas Real Estate advised the purchaser. Both agents declined to comment on the transaction when contacted by The Irish Times.
