One of the largest industrial lettings in the Cork area in ten years has been confirmed this week.
Block A, Ringport Business Park in Ringaskidy, which comprises a detached warehouse of 95,000sq ft, has been let to specialist glass processing company Precision Quality Glass, said joint agents Lisney Cork and Cohalan Downing.
David McCarthy of Lisney negotiated a longterm lease with PQG which plans to move from its existing warehouse in City North Business Park on the northside of Cork city.
The agreed rent was in the region of €380,000 per annum which is subject to a significant capital spend by the tenants, added Mr McCarthy.
Ringport Business Park comprises a secure office and industrial/warehousing complex on a 15-acre site that was originally purpose-built by developer John Fleming for his Fusion Building Solutions business, which employed up to 700 people, system-building steel frame structures for the Irish and UK apartment and student accommodation sectors.
The Park comprises three main blocks of high bay warehousing incorporating office accommodation with a total floor area of 210,000sq ft.
The Park is situated on the eastern side of Ringaskiddy village, just south of the main Ringaskiddy road (N28), in an established industrial location approx. 16km east of Cork city with neighbouring occupiers including Pfizer, Novartis, DePuy, Johnson & Johnson, Glaxo Smithkline and the National Maritime College of Ireland.
The Port of Cork is situated close by to the north and is currently undergoing major redevelopment under the Port’s 2010 Strategic Development Plan. The €100m development will form an extension to the existing facilities that the Port currently operates in Ringaskiddy.
“There are also plans for the N28 road to Ringaskiddy to be rerouted and as proposed it will pass to the north of the property and will further enhance accessibility,” added Mr McCarthy.
The warehouse accommodation provides generous eaves heights of up to 10m and excellent loading facilities and circulation areas, said Mr McCarthy.
“There has been strong interest in the complex over the last 12 months given the fact that there is limited high quality industrial/warehouse accommodation of this scale available in the market currently.”
The extensive redevelopment of the Port located closeby has further enhanced the appeal of the location, he said.
“There is in the region of 115,000sq ft still available with some of this space under offer,” added Mr McCarthy.
Managing director Terry McGrath of PQG said the location of the new facility in Ringaskiddy is “ideal for this company as we will have access to our imported raw material directly from the new port and this is an ideal opportunity to reduce our carbon footprint”. Precision Quality Glass Ltd currently employs 29 staff.
After opening in 2014 we have gone from strength to strength and the move to this new modern facility in Ringaskiddy will cement our position as the leading specialist glass processor in Ireland
- said Mr McGrath.
“Due to new developments in the thermal efficiencies of buildings we have decided to install two new modern Jumbo glass processing lines in our new facility in Ringaskiddy. We will now be able to process and toughen glass to the maximum size of 6m x 3.2m inhouse and eliminate the need to import these products which has caused delays and technical difficulties for the commercial aluminium and building industry.
The move to Ringaskiddy is already started and will continue until the middle of January 2020 whereby five glass processing lines will be installed, and the new commercial aluminium facility will be commissioned. This is a significant new development and will be a major asset to the building industry in Ireland.”