New Frontier Properties acquired Dublin Logistics Property under long lease

Posted On Monday, 06 November 2017 20:22 Published 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

Portugal ramps up its appeal for South Africans seeking EU citizenship

Feb 07, 2018
Porto view across Douro River
Foreigners - including South Africans, wanting to acquire freedom of movement for…

Celebrations as new Thavhani Mall taxi rank opens

Feb 01, 2018
Brandon Nesengani
Shoppers can now get to Thavhani Mall in a flash thanks to the brand new taxi rank that…

SA REITs deliver another year of double-digit growth in 2017

Feb 07, 2018
Izak Petersen SA REIT
The FTSE/JSE South African Listed Property Index (SAPY) achieved total returns of 17.2%…

Check your zoning rights before buying a residential property for business use

Feb 07, 2018
PJ Veldhuizen
How often do we see those adverts “perfect for home-office” or “ideal for business” on an…

Hilton Marks Opening of Hilton Cabo Verde Sal Resort

Feb 02, 2018
Ribbon Cutting hilton
Hilton Cabo Verde Sal Resort offers stunning ocean views, a stylish beach club and ample…

Please publish modules in offcanvas position.