22 Jan 2024

M7 Ireland serves up three new premier trade occupiers at Cookstown Quarter, Tallaght, Dublin 24

M7 Real Estate (“M7”), the pan-European investor and asset manager, has successfully leased three light industrial units in its substantially refurbished scheme at Cookstown Quarter in Tallaght, Dublin 24. HuntOffice, Howdens, and City Electrical Factors (CEF) have secured Units 1A, 1B, and 1C at Cookstown Quarter, respectively. The units underwent a comprehensive refurbishment program, with Howdens and CEF opting to eliminate the ground & first-floor offices and install their own fitout. The lettings ranged in size from 8,396 to 9,195 sq ft and have all been leased on long-term agreements in Q3 and Q4 of 2023. Rents achieved exceeded €12.00 per sq ft.

This significant milestone further solidifies M7’s commitment to revitalising the commercial profile of Cookstown Quarter, formerly known as The Cookstown Collection, which was acquired by M7 in 2022. The original acquisition spanned some 151,764 sq ft across a 7.1 acre site. M7 engaged Arcadis and a wide team of professionals, including Kercon Construction as the main contractor, to implement a comprehensive refurbishment of the entire site, with the final stage of the refurbishment due to complete in H1 2024. This significant and somewhat intricate refurbishment program demonstrates M7’s commitment to repositioning existing “brownfield” assets in established locations and modernizing accordingly, and where required and in this instance – making them more occupier-friendly. This highlights M7’s dedication to sustainable development practices, by repurposing existing assets, implementing energy-efficient solutions and prioritising environmental considerations throughout the refurbishment. A further notable feature of the refurbishment was the removal of over 100 tonnes of hazardous asbestos by our specialist partner Harrington’s.

Acting on behalf of M7 Real Estate, Nicola Gilleece & Sean Kellegher of Cushman & Wakefield Ireland commented: “HuntOffice, Howdens, and CEF are valuable additions to this active development, and their commitment to the scheme highlights the attractiveness of Cookstown Quarter as a premier trade and business destination in Southwest Dublin.”

James Smith, Senior Asset Manager at M7 Real Estate Ireland, commented: “The addition of three significant occupiers, and the previous letting to Keary Motor Group as a service centre, is a testament to our selection of existing buildings requiring refurbishment and implementing new business plans to attract a strong, diverse range of tenants. We are delighted by the high quality finished product of the estate refurbishment which provides a focal point at the gateway to the wider Cookstown Industrial zone.”