Park Developments Sells Dublin logistics portfolio in €47.9m deal

Savills Investment Management is the buyer of four units based in Ballycoolin, Co Dublin

Northwest Logistics Park in Dublin

Northwest Logistics Park in Dublin

 

Park Developments has sold a portfolio of logistics units in Dublin to a fund managed by Savills Investment Management for €47.9 million.

The portfolio comprised four buildings located at Northwest Logistics Park in Ballycoolin which extend to over 22,482sq m (242,000sq ft) in total and are let on long-term leases.

Northwest Logistics Park is one of Dublin’s premier and most established logistics locations. The park is within 200m of the link road which provides access to the N2 (J3) and N3 (J2) routes, and to the M50 with motorway access to all of the main arterial routes from Dublin, to the airport and the Port Tunnel.

Savills Investment Management is a pan-European fund focusing on office, retail and logistics assets. It has over €21.2 billion in assets under management globally.

Park Developments was represented by joint agents Savills and CBRE along with legal advisors Gore & Grimes Solicitors. Savills Investment Management was advised by A&L Goodbody.