M7 Real Estate Ireland, a subsidiary of the pan-European investor, M7 Real Estate, has attained full occupancy at Cookstown Quarter in Tallaght, Dublin 24, following a substantial investment in the 2.87-hectare (7.1-acre) estate’s industrial and commercial units
Having paid €19 million for the portfolio formerly known as the Cookstown Collection in 2022, M7 undertook an extensive refurbishment programme of its 13,552sq m (145,550sq ft) of mixed-use accommodation. The works included the removal of more than 100 tonnes of asbestos, installation of new insulated panels, the overcladding and renewal of elevations, replacement of obsolete electrics, the modernisation of office space, and the installation of new windows and LED lighting.
The scheme which had been vacant at the time of its sale in 2022 is home to a number of occupiers. The tenant line-up includes Howdens, Uisce Éireann, CEF, FBT Gyms, House of Padel, Hunt Office Supplies, WH Scott and Kearys of Belgard. The units taken range in size from 780sq m (8,396sq ft) to 2,573sq m (27,697sq ft), with rents achieved in excess of €11 per sq ft on long-term full repairing and insuring (FRI) leases.
Nicola Gilleece of Cushman & Wakefield, who acted on behalf of M7, said: “I’m delighted that we have now reached 100 per cent occupancy. Tallaght continues to be a prime location for industrial and trade-counter occupiers.”
RM Block
James Smith, director at M7 Ireland, said: “We are delighted to complete what has been a comprehensive and significant asset management plan. We have established a destination for trade-counter occupiers; positioning an obsolete and former showroom-service centre block into a multiple-use facility that includes a vehicle service centre, a company HQ and leisure uses that include a gym and padel courts.”
