Gannon seeking over €70m for car park at Dublin Airport
Gerard Gannon Properties is offering the former “Quickpark” car park at Dublin Airport to the market for sale and joint agents Knight Frank and Colliers are guiding more than €70m for it.
Comprising an L-shaped land holding, it extends to a total site area of 16.9 hectares (41.76 acres). It comes with full planning permission for a new entrance building comprising office space for staff and a total of 6,122 long-stay car parking spaces. Currently, there is a single access point to the car park which is controlled by six automated barriers.
Demand for parking at the airport is very high among passengers who start their journeys there. Pre-pandemic in 2019, approximately 30.7 million passengers started and ended their journeys at Dublin Airport and this year has seen faster than anticipated recovery of international travel.
Unlike its European counterparts, Dublin Airport does not benefit from a direct rail connection with the city centre and the proposed Metro North project has been delayed until at least 2035. Furthermore, the widely reported taxi shortage in Dublin has only exacerbated issues, with only 14pc of licensed taxis permitted to operate at Dublin Airport.
Given the limited options of public transport and that 53.4pc of cars accessing the airport originate from outside Dublin, it is expected that there will be a sustained demand for parking at the airport.
Gerard Gannon is one of Dublin’s larger developers with projects in Clongriffin and Luas park and ride straddling Balally Luas station.