Former ADM Londis HQ acquired by M7 Real Estate
11 August 2020 | 0
The former headquarters and distribution facilty of ADM Londis have been acquired by European investor and asset manager M7 Real Estate.
While the deal’s value was not disclosed, it’s understood that M7 paid close to the guide price of €6.25 million put forward by industry specialists Harvey.
Situated just two minutes’ drive from junction 8 on the N7, and five minutes’ drive from Naas town centre, the former ADM Londis facility in Johnstown, Co. Kildare, comprises 10,554sq m (113,603sq ft) of warehouse and office space on a 2.3 hectare (5.6 acre) site.
The Irish Times reports M7’s Irish portfolio now comprises 16 assets extending to about 1,000,000sq ft, mostly in industrial and logistics space.
In January, the company acquired Primeside Park in Dublin for €6.75 million. It also bought the Century Business Park in Finglas for € 4.47 million last September, and the Westlink industrial estate in Dublin 10, for €13,870,000 in 2018.
In 2017, M7’s first investment in Ireland was the acquisition of Fumbally Lane, a combined office and residential development in Dublin 8 which was on the market for €24 million. M7 then sold Fumbally Lane on to BCP Asset Management in 2018 for €33.5 million, after finishing a comprehensive asset management programme which significantly improved its vacancy rate.
Operating across 14 countries, M7’s portfolio includes 835 retail, office and industrial assets with a value of about € 5.1 billion.