Office supplies giant on €34m expansion course in Ireland

Office supplies group Lyreco is investing €34 million in a new head office and sales facility in Rathcoole, Co Dublin, and intends to hire an additional 50 people there – an increase in workforce of around 50 per cent.

Headquartered in France, the company sells office supplies, personal protective equipment and other workplace products and has had a presence in Ireland since 1970.

Lyreco said its new premises will be the largest of its kind in Ireland, with vertical storage technology and 50 additional on-site capacities.

The company supplies around 10,000 products to private and public customers in the retail, industrial, hospitality, healthcare, construction and education sectors.

The expansion of the company’s Irish office is expected to help double sales over the next two to three years.

High specification logistics has emerged as the most dynamic corner of the Irish commercial property market in recent years as a result of general economic expansion and in particular the shift to online sales and delivery.

While traditional retail rents and property values ​​have come under sustained pressure, the industrial and logistics sectors are seeing sustained investment and rental growth.

According to the, logistics values ​​increased by 2 percent in the first quarter of 2022 and by 15 percent in the 12 months latest MSCI/SCSI Ireland Quarterly Property Index.