M7 experiences sharp rental growth at Swords Enterprise Park, Dublin following a flurry of lettings

M7 Ireland, on behalf of EREIP VI, purchased Swords Enterprise Park in June 2022. The park contains 61 industrial and office units ranging in size from 527 sq ft to 2,130 sq ft and benefits from a prime location in north Dublin, close to Dublin Airport, the M50, Port Tunnel, and is easily accessed from most of the Dublin area.

In the last 18 months, M7 has completed 19 new lettings or renewals and 4 rent reviews, all above €20 psf. The new lettings have included occupiers like leading flight simulation operator Upilot, offering state-of-the-art flight simulations; Kavanagh Forensics, investigating causes and effects of property damage; and the Irish Centre for Cycling, offering bike rental and cycling tour services around North Dublin. Other new occupiers include sound and acoustic consultants Enfonic, accountants Francis Cummins & Co, and Titan Roofing, which has taken a second unit in Swords Enterprise Park to support the growth of their nationwide roofing company.

To meet demand from an increasingly ESG-aware market, a program of refurbishment of vacant space has been rolled out, including LED installation, new energy-efficient heating systems, and decorative works. This renewed stock has strongly appealed to the market, which seeks the clean, own-door, and energy-efficient units Swords Enterprise Park offers.

Mark Cassidy, Asset Manager at M7 Ireland, commented: “Swords Enterprise Park has been a huge success for M7. Business parks like this are rare in Dublin and especially of this build quality and in this location which is a huge factor in attracting good tenants and nurturing a vibrant and diverse enterprise park. When you visit Swords Enterprise Park and see the new signage being installed, the vacant units being renewed and the vibrant mix of successful businesses growing each month it really illustrates the strength and success of our asset management strategy. We look forward to welcoming further occupiers this year.”