Belfast Telegraph

Investment fund snaps up industrial estate in Dublin

By Ellie Donnelly

European investment fund M7 Real Estate has acquired Primeside Park in Ballycoolin, Dublin for €6.75m (£5m).

The price for the industrial estate, purchased from a private investor, represents an initial yield of close to 7%.

The fund made its first foray into Northern Ireland in 2018 when it bought offices at 20 Adelaide Street in Belfast for £2.4m. Primeside Park is a recently developed multi-let industrial estate, which is made up of 25 units.

It has a total floor area of approximately 71,300 sq ft.

The development is almost fully let and M7 said it has identified a number of "value enhancing asset management initiatives", which it will implement immediately. The site is beside Northwest Business Park and is also close to the airport and Dublin Port Tunnel.

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