Wednesday 16 October 2019

Iput seeks tenant for premier airport logistics premises

Unit 1, Dublin Airport Logistics Park
Unit 1, Dublin Airport Logistics Park
Donal Buckley

Donal Buckley

Irish Property fund Iput plc is seeking tenants for Unit 1 Dublin Airport Logistics Park in north County Dublin. Its agent Harvey, the industrial property specialist, is quoting annual rent of €1,665,000 for the high bay warehouse and office facility extending to 184,886 sq ft. This equates to €9 per sq ft.

Occupying a premier position at the park entrance, the site of 8.4 acres benefits from corporate offices, 192 parking spaces, dedicated trailer parking, a 37-metre deep secure yard, loading access via 15 dock levellers and five level access doors.

Located metres from the Dublin Airport boundary, it is also easily accessible from the Port Tunnel, Dublin city centre, the M1, M2 and M50 motorways and all other arterial routes. The park has dual access/egress via its direct links to the M2 Motorway and St Margaret's Road.

Occupiers in the park include DHL Express, DHL Global Forwarding and Dnata.

Iput bought the property last January, in one of the year's most valuable industrial purchases, from book and stationery retailer Eason for €19m. It had been Eason's main warehouse before the company decided to sell off a number of properties and distribute funds to shareholders.

Iput undertook a major refurbishment of the unit following its success with the pre-lettings of 624 Northwest Business Park (103,883 sq ft) to DB Schenker in the third quarter of 2017 and 103 Northwest Business Park (134,484 sq ft) to Sonas Bathrooms in the third quarter of 2018.

Iput plc's logistics holdings currently extend to over 2.5 million sq ft comprising 31 properties in strategic Dublin distribution locations.

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