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

Balwin Properties announces R9 billion Munyaka Crystal Lagoon development in Waterfall, Midrand

Feb 06, 2020
Munyaka Crystal Lagoon
JSE listed Balwin Properties, a developer that cares about environmentally responsible…

2020 Commercial Property Themes –Electricity supply and cost will be a key wildcard for the Commercial Property Sector this year

Jan 23, 2020
John LoosFNB
Will electricity supply reliability and cost increases become a key issue again in 2020?

Nedbank’s facilitation of the Barloworld-Khula Sizwe transaction highlights the bank’s commitment to transformation in the commercial property sector

Jan 24, 2020
Nedbank Barloworld Khula Sizwe
Nedbank’s facilitation of the Barloworld-Khula Sizwe transaction highlights the bank’s…

All the insurance you need as a homeowner

Jan 23, 2020
Carl Coetzee CEO of BetterBond
As a new home-owner, you are going to need three types of insurance – at least one of…

The Harri launches in Cape Town's thriving East City Precinct

Jan 23, 2020
The Harri Cape Town
The Harri offers 39 stunning studio and two-storey penthouse apartments, blended with…

Please publish modules in offcanvas position.