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.