Monday, 06 November 2017 20:22

New Frontier Properties acquired Dublin Logistics Property under long lease

Written by
Rate this item
(1 Vote)

JSE AltX and Mauritius listed New Frontier Properties on Friday announced the acquisition of Unit 1, Stadium Business Park in Dublin, Ireland for €8.65 million, representing a net initial yield of 8.23%.  

Mike_Riley_CEO 

Mike Riley, CEO of New Frontier Properties, commented: 

“This purchase in Dublin is in line with our investment strategy to acquire European logistics and warehouse properties so as to benefit from the increase in e-retailing activity across Europe. 

This modern warehouse facility is located in a strategic logistics position in northwest Dublin near the International Airport and Dublin Port Tunnel.”

The 78,265 sq ft (7 271 m2) property is let to Viking Direct (Ireland) Limited, a global company forming part of Office Depot (one of the largest suppliers of office stationary in the world), on a 20year full repairing and insuring lease from 24 August 2007 at a rent of €743,518 per annum.  

New Frontier was advised by pan European real estate adviser, Waypoint Asset Management in acquiring the property.  

Last modified on Monday, 06 November 2017 20:30

Most Popular

Women Property Network announces winners in 2017 SA women in Property Awards

Oct 19, 2017
WPN2017 Awards
At a glittering event held at the Polo Room, Inanda Club last night, the Women’s Property…

Increase productivity at work: just add air, sunlight, and water

Oct 23, 2017
Nigel Oseland
Only 53% of wage earners think their place of work helps their productivity.

Emira Property Fund's R200m Rosebank office-to-residential conversion meets a high-demand gap in the market

Oct 26, 2017
Emira The Bolton residential development perspective
Emira Property Fund’s value-enhancing conversion of its Rosebank office property assets…

Sky City Mall: The hub of the mega Sky City development

Nov 03, 2017
Sky City Mall Front view
GMI Property Group (GMI), in collaboration with Cosmopolitan Projects are pleased to…

The ageing groups of home owners remain a force to be reckoned with in tougher economic times

Oct 19, 2017
John LoosFNB
The 3rd Quarter 2017 FNB Estate Agent Survey continued to point strength in levels of…