January 2018: Acquisition – Building 5200, Cork Airport Business Park
New Year, new acquisition! Fine Grain Property is delighted to announce it has acquired a 60,000 square feet office development in Cork Airport Business Park. Plans are already afoot to carry out some important improvements to the Building that will benefit its existing tenants, including Aviva, Aon Hewitt, JLT and Genesis. In addition, a significant refurbishment project is underway, which will result in 20,000 square feet of brand new office space, available to lease from mid-2018.
This new space comes at an ideal time, when there is a lack of high quality rental space in Cork. With rents and the cost of living increasing in Dublin, Fine Grain Property acquired this office development in order to offer an alternative location for premium, affordable office space. Beside Cork International Airport (the fastest growing regional airport in Europe) and located just 8km south of Cork City, Cork Airport Business Park offers an outstanding location that meets occupier demand by offering high quality, spacious, open plan office accommodation for employers.
The business park is just over 2 ½ hours' drive from Dublin and already caters to the needs of the growing business and technology community with both indigenous and international companies presently based there, including Amazon, IBM, Intel, Bank of New York Mellon, and Logitech, amongst others. This is a great location for attracting and retaining talent. University College Cork and Cork Institute of Technology have over 33,000 students and are less than 20 minutes’ drive away.
Cormac Ó Tighearnaigh, CEO, Fine Grain Property Ireland, said: “Fine Grain Property is passionate about creating great workspaces to help domestic and international employers to attract and retain talent. The Firm’s international experience and presence on the ground in Ireland leaves us very well placed to realise these opportunities, providing tenants with high quality facilities tailored to their individual needs. This acquisition diversifies our portfolio, further illustrating our commitment to invest and develop high quality office spaces located outside of Dublin, in turn assisting to the economic growth of other regional areas. We are pleased to have the continued support of this strategy, from the Ireland Strategic Investment Fund (ISIF), which has invested €25 million in Fine Grain Property’s portfolio fund to date.”
As Fine Grain’s operations in Ireland expand to include Cork, alongside existing substantial buildings in Dublin, Athlone and Galway, we continue to develop further projects around the country. We rely on the same basic formula which has brought success internationally; a thorough knowledge and understanding of the local market, operating under a commitment to “buy well, manage well, and sell well.”
Fine Grain Property is pleased to participate in the vibrant Cork business community, providing property solutions that facilitate the continued development of international and local businesses in the southwest region.
If you have a need for customised workspace solutions to meet the needs of your workforce in Cork, or anywhere in Ireland, please get in touch.