Bridges Fund Management has partnered with Irish real estate developer Dunquin Capital to develop a sustainable logistics park in Ireland.
This project will be one of the first new multi-let industrial developments in Ireland in two decades.
Located within the Stadium Business Park in northwest Dublin, just 12 kilometres from the city centre, the 3-hectare site is close to the M50 motorway via Junction 6, making it an ideal location for distribution businesses.
The planned development includes five modern logistics units, ranging from 1,486 m2 to 2,137 m2 in size. The project aims for LEED Gold certification and a Building Energy Rating (BER) equivalent to EPC A. Construction is slated to commence in January 2025, with completion anticipated in early 2026.
Guy Bowden, partner at Bridges Fund Management, said: ‘From our experience of delivering some of the U.K. and Ireland’s most sustainable industrial developments, we know there is strong demand for highly sustainable small units that help occupiers mitigate running costs, future-proof themselves against environmental regulations, and achieve their ESG goals. There’s a clear under-supply of new schemes like this in Ireland at the moment, and we’re excited to work with Dunquin to change that - starting with this great site in Dublin.’
Dunquin Capital added: ‘Dunquin and Bridges have a unique opportunity to become leaders in Irish ‘small box’ development, capitalising on our local network and expertise, and Bridges’ extensive experience of delivering best-in-class sustainable industrial buildings. We believe this combination will give us a competitive advantage in unlocking attractive development sites, and ultimately selling into a growing institutional multi-let investor base.’
Bridges is actively developing over 278,709 m2 of sustainable industrial and logistics space across the UK and Ireland. This marks their second investment in Ireland and their first collaboration with an Irish developer. For its part, Dunquin Capital specializes in acquiring and developing industrial and logistics real estate in Ireland.
This investment aims to capitalize on the robust demand for high-quality, smaller industrial units in Ireland. While recent years have seen significant investor interest in larger-scale industrial properties, the market for new-build, smaller units has been underserved. This supply gap, coupled with the growing Irish economy, has driven up rental rates in this sector.
