Dunquin Capital is developing an MLI scheme within Stadium Business Park
The growth seen by industrial and logistics property following the advent of e-commerce has seen major international operators competing for the lucrative multi-let (MLI) sector of the Irish market, according to research by CBRE.
Among them are M7 Real Estate, Palm Capital and Kennedy Wilson. But Irish firms are also competing, most notably John Cleary’s JCD which focuses mainly on Cork.
UK=based investor and developer M7 has built a substantial portfolio of about 350 units, primarily in I&L, which include Westlink Industrial Estate, Primeside Park and Swords Enterprise Park. Its MLI units average just over 9,000 sqft, and with its refurbishment of older units it attracts demand from across the greater Dublin area.
Palm Capital has concentrated on south-west Dublin and Kildare with assets in Greenogue Business Park, Naas and Newbridge.
Although best known for its residential rental complexes, US investor Kennedy Wilson owns a large industrial portfolio across Dublin notably in Greenogue and Aerodrome business parks.
One of the newer arrivals, Chancerygate, is one of the UK’s largest MLI developers. It is delivering new MLI units at Airport Trade Park in Dublin, quoting rents from €17.50 to €21.30 psf.
An emerging Irish investor and developer, Dunquin Capital, is developing an MLI scheme within Stadium Business Park, which is its first development. In Cork, JCD Group’s MLI portfolio spans multiple business parks.
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