Lift off at Cork Airport Business Park with €1.7m sale

The business park is home to many high-profile buildings

Building 5300 Cork Airport Business Park, formerly home to US tech giant IBM, is currently up for grabs.

Cork Airport Business Park has wind beneath its wings following the €1.7m sale of a high-profile building to an existing owner-occupier within the park.

The deal comes hot on the heels of commercial real estate firm Knight Frank securing new tenants Evumed at a separate unit, where the biopharma company has just opened its European headquarters, with the creation of 30 jobs.

More than 20,000sq ft has been taken up between the sale of 12,000sq ft Building 4600 — previously home to global financial services company Alter Domus and subsequently covid-testing centre RocDoc — and the letting of 8,000sq ft at Building 2100 to Evumed, who are paying rent in the region of €18psf pa. Knight Frank, who oversaw both deals, did not confirm the sale price of 4600, but it’s understood it was close to the €1.7m guide.

Building 5300 was once use by IBM. Picture: Larry Cummins

David McCarthy of Knight Frank said there is currently “renewed interest” in the airport business park “with a number multinational companies assessing opportunities at the location”. “Another signal of confidence is that a number of the global occupiers have renewed their leases for various buildings within the park,” he added.

The largest building currently up for grabs is Building 5300, previously occupied by US tech giant IBM. The property comprises a modern detached two storey third generation office building with a total gross internal area is 2,333sq m (25,115sq ft). Internally, the property is fitted to a high standard. Externally the site is landscaped and there is surface car parking.

The airport business park is within walking distance of the terminal buildings and provides about 70,000sq m (750,000sq ft) of modern third generation office accommodation laid out in a low density campus-style landscaped environment. Occupiers in the park include Amazon, Intel, IBM, Poppulo, Aviva, and Alter Domus.

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