Dublin landholding zoned for large-scale logistics guiding at €18m
Developers and occupiers of large-scale logistics and warehouse space will be interested in the sale of a major landholding which has come to the market near Dublin Airport.
Located next to the M2 Cherryhound interchange and just minutes from both the M50 motorway and the entrance to the Dublin Port Tunnel, the M2 Airlink portfolio comprises 25.44 hectares (63 acres), the majority of which (21.8 hectares/54 acres) is zoned for employment uses under the Fingal Development Plan 2017-2023.
The remaining 3.7 hectares (9 acres), meanwhile, offers future development potential subject to rezoning in the upcoming development plan. The lands are being offered for sale in their entirety by joint agents REA Grimes and Cushman & Wakefield at a guide price of €18 million.
In terms of its development potential, the masterplan and feasibility study prepared on behalf of the property’s current owners suggest it could accommodate up to 65,000sq m (699,654sq ft)of logistic and industrial space distributed across 12 buildings.
In a further illustration of the site’s capacity, there are two separate live planning permission approvals at present for buildings of 4,000sq m (43,055sq ft) upwards, giving the prospective purchaser the option to commence construction immediately.
Commenting on the sale, REA Grimes managing director Paul Grimes said: “This landholding lends itself to a wide variety of warehouse and industrial uses, subject to planning permission. As well as its proximity to main transport hubs including the M50, M1, M2, M3 and Dublin Airport, it also benefits from being close to a vast array of amenities.
Brendan Smyth, director and head of logistics at Cushman & Wakefield, added: “E-commerce now forms a large portion of retailers’ business, and this is leading to a significant level of take-up within the warehouse and distribution sectors to meet these requirements.
“With its position on a motorway interchange, this location has the ability to reduce travel times, fuel costs and, most importantly, the delivery of product to the end-user. For these reasons we envisage a significant amount of interest from not only large-scale owner occupiers but also developers and investors seeking to develop their own logistics scheme.”
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