The anticipated price reflects the continuing scarcity of supply of industrial zoned lands in many parts of Dublin, most notably along the N11 and N81.

A new report on the industrial market published by CB Richard Ellis (CBRE) suggests that capital values, which have been rising steadily in recent months, have now stabilised. "Equally, rental values have stabilised at current levels of between 106 per sq m and 124 per sq m, and we expect only marginal increases over the coming months, " says Garrett McClean of CBRE's industrial market.

Demand for small owndoor industrial units is particularly strong at present, the report claims, with 42 of the 43 units of Phase 1 at Kingswood Business Park now reserved, and strong levels of demand prevailing for similar schemes across Dublin.

"Interestingly, the biggest proportion of industrial transactions in the Dublin market now comprise sales as opposed to lettings, which to some extent is a result of increases in interest rates, " McClean says.

A number of new schemes are due to be launched in September including the Gateway scheme in west Dublin.

"In general, supply is very effectively controlled, " McClean points out, "although there is potentially a lot of new supply coming on stream in north-west Dublin which must be monitored closely.

"The announcement of the route of Metro West in recent weeks has been broadly welcomed in that it will improve access for workers in the industrial estates on the west side of the city, " he said. "We anticipate a strong autumn selling season but expect that the industrial sector will be characterised by a large number of smaller deals as opposed to very large transactions."