Tenant sought for 10 year lease in former Terminal Building
9th November 2016
Tenant sought for 10 year lease in former Terminal Building of 45,300 sq.ft.
An Bord Pleanala grant planning permission for Cruise Ship berth
Two important property developments occurred last week in Dun Laoghaire. The first was the grant of permission by Bord Pleanala permitting access for cruise ships of up to 250m to berth in the harbour, and the second was the decision by Dun Laoghaire Harbour Company to offer a 10 year lease opportunity in the former ferry terminal at St Michael’s Pier which will bring considerable interest to potential occupiers.
On Friday last planning permission was granted by An Bord Pleanala for an €18 million cruise ship berth. Dún Laoghaire Harbour Company have welcomed the board’s decision and estimate that the new 320m berth will allow the harbour to accommodate up to 80 per cent of cruise ships that currently visit Dublin Bay while the largest cruise ships will be able to dock in Dublin Port’s Alexandra Basin. It is estimated that this new berth will attract circa 50 cruise calls a year (from May to September), an average of two a week, each with an average of 2,000 cruise visitors who will disembark to spend money in the area. The money generated from these visitors could, over a season, amount to €10m. It is expected that the project will take 18 months to construct and it is anticipated that work could get underway next year.
In the meantime Dún Laoghaire Harbour Company has instructed Lisney to offer to let the former terminal building at St Michael’s Pier, Dun Laoghaire to a suitable tenant on a new 10 year lease. The building is superbly located in the heart of the harbour and beside the DART, Town Hall, Yacht Clubs, Shopping Centre, hotels and all amenities. The terminal will not be required by the Cruise Ships. It was constructed approximately 20 years ago and provided extensive passenger facilities, duty free, departure, arrivals and baggage areas. It was last used by Stena in 2015 and more recently part of which recently provided space for the popular Shackleton Exhibition at the front.
The building can be made available for letting in a variety of space configurations. It is potentially suited to a wide variety of occupiers, subject to planning permission being obtained for their particular use. The new 10 year lease opportunity will appeal to larger space occupiers seeking a longer term over which to reap the benefits of any conversion capital investment into rearranging the space to suit their needs. Under the Dun Laoghaire Rathdown Development Plan many uses are permitted in principle and open for consideration such as offices, retailing, hotel, community, leisure and exhibition space.
The space present in the building comprises approximately 4,200 sq.m. (45,300 sq.ft.) of gross internal area with extensive and attractive spaces in the former arrivals and departure areas, baggage claim, former 1st floor restaurant, former duty free shops as well as extensive attractive first floor offices of 5,000 sq.ft. and harbourmaster areas. The terminal also benefits from ample car parking facilities and of course, superb harbour views and maritime atmosphere. The space can potentially be sub-divided depending on the nature of the proposals received.
Lisney are inviting expressions of interest and offers of rent to be received no later than 12 noon on Tuesday 13th December 2016. Further information and details of the information required from applicants is available on request from the agents.