Caulfield Transport rents former ADM Londis HQ in Kildare
2 March 2021 | 0
Caulfield Transport has agreed to occupy the former ADM Londis HQ in Kildare, on a 10-year lease with a fixed rental uplift at the conclusion of year five.
The quick turnaround of the property by M7 Real Estate is an indication of the strong demand currently for large scale logistics facilities in Dublin and the greater Dublin area.
In fact, The Irish Times reports investor and asset manager M7 Real Estate has completed three leases on behalf of a major financial institution at logistics properties in or close to Dublin totalling 138,460sq ft.
M7 bought the former Londis HQ for approximately €6.25 million last August, and later set about bringing it into line with Caulfield Transport’s specific requirements.
The Johnstown, Co Kildare-based facility has 10,554sq m (113,603sq ft) of warehouse and office space on a 2.3 hectare (5.6 acre) site.
Speaking about completing the three deals, James Smith, asset manager at M7, said: “These deals are representative of the strength of the market for industrial space in Dublin, where we are seeing significant rental growth for well-located assets, like those at Johnstown and North Park, which are in short supply. The leases, as well as the upgrade works at Johnstown, were completed despite the challenges presented by Covid-19, reflecting M7’s on-the-ground asset management expertise and our ability to meet the needs of our tenants.”