Corrig Court, Sandyford, Dublin
A landlord’s decision to upgrade a Sandyford office to B1 is paying dividends. He has secured a new tenant for the entire top floor of Corrig Court. Equally interesting is that he has secured a long-term 20-year lease – admittedly at a keen rent of €25 per sq ft – for the 10,000 sq ft of space.
New tenant Yuno Limited, affiliated with PrepayPower, is an insurance firm. It already has space in Sandyford which it is retaining.
Corrig Court is located at Corrig Road, a short walk from Beacon Hospital and Beacon South Quarter shopping centre as well as the new apartment developments at Sandyford Central and Rockbrook.
The Corrig landlord, a private investor, bought the 38,000 sq ft office from McGarrell Reilly in 2016.
Paul Hipwell, letting agent at Lisney, believes this letting may also reflect the resilience of Sandyford’s office market.
This letting follows the letting last year of another floor in the building to technology firm Bechtle Direct. A third floor in the four-storey building was already occupied by long-term tenant BSI.
Another 10,000 sq ft unit on the second floor is still available for letting.
The building upgrade contrasts with the reluctance of some landlords to invest because of fears they may not recoup the cost of new installations.
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