Developer Sean Reilly’s McGarrell Reilly has agreed a deal with PCI Pharma Services which will see the company engage in a significant expansion of its existing commercial pharmaceutical packaging operations at CityNorth Business Campus in Stamullen, Co Meath.
PCI, a leading pharmaceutical contract development and manufacturing organisation, has signed a 25-year lease agreement for a new 82,000sq ft facility to complement the 45,000sq ft from which it operates currently. Due for completion in the first quarter of 2025, the new building will target LEED Gold certification, and have an A3 Ber rating along with rainwater harvesting. While details of the rent have not been disclosed The Irish Times understands that PCI has agreed to pay about €12.50 per sq ft.
PCI supports the development, manufacturing, and packaging of critical medicines across the drug-product life cycle from early-phase clinical trials through product launch and commercial market supply. The company’s facilities in Ireland provide packaging solutions for oral solid dose (tablets and capsules) and sterile injectable dosage forms.
News of the CityNorth deal comes just over two months on from PCI’s agreement to occupy the newly-built Unit 736 at Northwest Logistics Park in Dublin on a 15-year lease term at a rent of €13 per sq ft. Developed by Michael Cotter’s Park Developments, the facility extends to 6,408sq m (68,978sq ft) and is a highly sustainable building with LEED Gold certification and EU Taxonomy compliance.
Can a company force me to sell my shares?
Receivers appointed to McKillen jnr company behind Bray Central shopping centre
Mike Ashley firm gets green light to open large gym on one floor of former Debenhams stores on Henry Street in Dublin
Cork office and retail opportunity offers gilt-edged investment for €6m
Commenting on PCI’s decision to expand its operations at CityNorth, McGarrell Reilly founder, Sean Reilly, said: “Their decision to locate here and substantially grow their operations is a great endorsement of CityNorth Business Campus.”
James McDermott, general manager of PCI Pharma Services Ireland, said: “This strategic expansion of our commercial packaging operations is an investment that will provide growth in this key area close to Dublin over the next three to five years.”
IDA Ireland’s global head of life sciences Rachel Shelly welcomed PCI’s announcement, describing it both as excellent news for Meath and the mideast region, and as a reinforcement of the company’s commitment to Ireland.
Brendan Smyth of Cushman & Wakefield represented McGarrell Reilly on the letting. He said: “CityNorth is one of the few remaining locations which can provide large-scale development just off a motorway interchange. A number of occupiers are currently in discussions around both pre-lettings and forward purchases.”
CityNorth Business Campus is located just off junction 7 of the M1 motorway, giving occupiers access to Dublin Port Tunnel and the M50 and wider motorway network within 15 minutes, and Belfast city centre within 90 minutes.
McGarrell Reilly has recently secured full planning permission for further units within the campus ranging from 60,000sq ft to 100,000sq ft. Tailored design-and-build solutions are available on both a to let and for sale basis.
