A-Rated Little Island warehouse ready for sublet at competitive price

Global investor Kennedy Wilson invested heavily in upgrading units at Nova Business Park in Little Island, East Cork

Nova Business Park warehouse, Little Island, redeveloped by Kennedy Wilson

Thu, 21 Aug, 2025 - 00:00

Catherine Shanahan

A PRIME industrial unit in Little Island, extensively upgraded by global real estate investor Kennedy Wilson, has come to market for sublet at a competitive annual rent of €127,195 (€10.55 psf).

Strategically located in Cork’s largest industrial and logistics hub, Unit 1 is one of eight warehouses in Nova Business Park given a comprehensive makeover by Kennedy Wilson after the US investor/developer — who also acquired Cork’s Elysian — bulk-bought the units around four years ago, from O’Connell Transport Warehousing, in what was then known as O’Connell Commercial Park.

Since then, all of the units have benefited from substantial investment designed to dramatically improve energy performance, as well as to provide high quality office and canteen space. Unit 1 is now A-rated, (A3 BER), the highest rating available for the most energy-efficient buildings.

End-of-terrace Unit 1 at Nova Business Park is available for sublet at a rate of €10.55psf

Some of the measures in place to achieve this include EV chargers, LED lighting and the use of smart metres, all contributing to lower annual utility costs.

David McCarthy, Sherry FitzGerald Commercial, is acting on behalf of tenant Fáilte Solar, who are subletting Unit 1.

“We’ve had some interest, mainly logistics’ companies,” the agent said.

He added that Nova Business Park has been redesigned “with the modern occupier in mind, with extensive upgrades throughout the buildings”, while the overall park occupiers “benefit from lower annual utility costs”. Kennedy Wilson is also pursuing LEED accreditation at the business park, a globally recognised symbol of sustainability.

The location is ideal for a logistics company as it’s just minutes from the M8 Cork/Dublin motorway via the upgraded Dunkettle interchange (3km away), with ease of access to the N40 South Ring road, the N25 Waterford route and all arterial routes, as well as Cork city centre. Cork Airport and the Port of Ringaskiddy are 16km and 20km away, respectively.

All eight units at Nova Business Park, just 3km from the Dunkettle Interchange

Nova Business Park’s strategic position was one of the attractions for neighbouring tenant Fastways. The independent courier service has two units in the park (5&6) since 2023, on a 20-year lease, for an annual rent of €440,000 or €10.75 psf. EZ Living Furniture is a tenant of Unit No 8 also since 2023 and it too is on a 20-year lease with an annual rent of €260,000 or €11.76 psf. The rent sought for Unit 1 is more competitive, at €10.55 psf. Mr MCarthy said it’s available by sublease or assignment, subject to landlord consent.

Unit 1, which extends to 1,119 sq m (12,045 sq ft), consists of a high-quality ground floor warehouse (1,030 sq m/11,084 sq ft), ground floor office (44.5 sq m/480 sq ft) and first floor open plan office accommodation (44.5 sq m/480 sq ft).