M7 toasts new letting at Kilcoole with letting to Rí-Rá Brewery

Following the purchase of several units in Kilcoole, a picturesque town in North County Wicklow, the existing tenant Rí-Rá Brewery expanded its presence from Units 2, 3, 4, and 6 within Renmore Business Park and opted to lease an additional approximately 6,700 sq ft at Unit 7, which recently underwent a comprehensive refurbishment.

Rí-Rá has been operating from the Business Park since 2021, and as they continue to expand, their new lease is set to run co-terminus with their existing lease, expiring in 2028. North Wicklow is known for producing many fantastic local breweries, but Rí-Rá sets itself apart by utilizing the Irish language in its marketing and even headhunting a Master Guinness Brewer to establish a significant reputation for this relatively small company. In leasing this unit directly, M7 Ireland agreed to €9.50 per sq ft, setting a new rental benchmark for this scheme.

The Business Park is home to several interesting tenants, including Intercake, a personalized cake design and printing company, SIS Pitches, an astroturf manufacturer that self-professes to be a “leader in their field”, and pet insurance company Mark and Chappel, to name just a few.

Claire McDowell, Asset Manager at M7 Ireland, explained, “It’s always a positive sign when existing tenants choose to extend their relationship with M7 Ireland. While vacancies in somewhat peripheral local submarkets can often be challenging, our hands-on communication style with our occupiers allowed us to effectively pre-let the unit, significantly enhancing the contracted rent roll. Furthermore, our refurbishment has improved the overall aesthetics of the scheme.”