Irish 3PL snaps up Dublin shed

Irish domestic distributor Caulfield Transport has taken a 113,000 sq ft warehouse in Johnstown, Co Kildare near Dublin from pan-European investor and asset manager M7 Real Estate.

The company took a 10 year lease with a fixed rental uplift at the end of year five. The former ADM Londis facility, which was acquired by M7 at the end of July 2020, has undergone upgrade works to bring the property in line with Caulfield Transport’s requirements.

The facility is located just two minutes from Junction 8 of the N7, connecting Dublin to the west and south west of Ireland and providing direct access to the M50.

M7 completed two further lettings at North Park, Finglas, close to the M50 and Dublin airport, where an existing occupier, Cyclone Couriers, took 12,500 sq ft across two units to support the business’ expansion. It has signed a five year lease at €9.50 per sq ft. A 12,960 sq ft unit has also been let to Camfil Ireland, a market leader in providing air filtration systems, at just over €10 per sq ft on a five year lease.

James Smith, Asset Manager at M7 said: “Altogether 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.”