Chancerygate and Bridges Fund Management have received planning consent for a 119,500 sq ft urban logistics park in Santry, just south of Dublin Airport.
The joint venture partners will speculatively develop the 14-unit Airport Trade Park scheme on a five-acre site on Swords Road.
Speculative construction of the units, which will range from 3,600 sq ft to 22,370 sq ft, will commence in autumn this year and once complete the scheme will have a projected GDV of circa €40m.
The development is the first investment made by the joint venture partners in Ireland. The partnership acquired the site, which is situated around 8km north of Dublin city centre, from Carey Building Contractors in May 2022.
Ed Dobbs, development director and head of Chancerygate’s Irish office, said: “We know there is high demand from occupiers for modern, sustainable urban logistics accommodation with convenient transport links within the Greater Dublin area. Airport Trade Park will help meet this demand by delivering strategically located Grade A urban logistics space, enabling businesses to be best placed when it comes to serving the locality and wider region.
“Now that planning has been granted, it marks an important milestone in our strategic expansion into Ireland and further into continental Europe. We look forward to progressing with the scheme and will continue to seek further opportunities in Ireland as we implement our growth plans.”
Guy Bowden, partner at Bridges Fund Management, added: “We’re delighted that we can now begin construction at this excellent Dublin site. We intend to draw on our experience of working on similar projects in the UK to deliver one of the most sustainable industrial buildings in Ireland, which we believe will be attractive to a range of occupiers looking to reduce their running costs as well as their impact on the planet.”
CBRE and Lisney are the agents for Airport Trade Park.
