Home Run For Developer Richard Barrett With CIÉ's Boston Sidings Site
CIÉ is teaming up with developer Richard Barrett's Bartra Capital Property on the development of new high-rise offices at Grand Canal Quay.
Bartra’s winning tender for Boston Sidings, the 0.87 acre site, saw off competition from a number of the country’s leading developers including Johnny Ronan, Barrett’s former partner in Treasury Holdings, the Irish Independent reports.
Other developers who also lost out to Barrett include Paddy McKillen’s Clarendon Properties, Sean Mulryan's Ballymore Properties and Tony Leonard.
Once Boston Sidings is finished it is anticipated to accommodate up to 120K SF of office space.
It is situated next to Grand Canal Dart station with frontage on to Grand Canal Quay, Macken Street and Clanwilliam Terrace.
When launching the marketing campaign for Boston Sidings last July, Lisney estimated that the south docks site could provide the State transport company with more than €1M per year of rent or a 10% share of the rent roll depending on which was greater.
Rents are now between €50 and €60/SF in the south docklands.
