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.

Sign In

Belfast Telegraph

Popular