Deka Immobilien has announced its first logistics investment in Ireland with the acquisition of a modern logistics centre in Ashbourne, Meath County/Dublin.
The property, part of the Ashbourne Business Park, offer a total rental area of 33,379 m2. The purchase price is estimated at approximately €70 mln.
The newly constructed logistics centre, completed earlier this year, is strategically located near the M2 and M50 motorways, providing easy access to Dublin's city centre, airport, and port. Given its prime location, strong demand for logistics space is anticipated.
The transaction involves two separate buildings with modern warehouses, office spaces, and a central delivery yard. It is being carried out as a sale-and-leaseback arrangement for the Deka-ImmobilienGlobal fund.
Irish logistics provider Primeline Group has signed a long-term (20-year) lease for the property. The units are designed to meet Nearly Zero Energy Building (NZEB) standards, with two photovoltaic systems providing approximately 30% of the total energy needs. Ashbourne, already home to several Primeline facilities, is a strategic location for the company.
Farshad Arshadi, head of Acquisition & Sales Logistics, commented: ‘Given Ashbourne's proximity to important logistical hubs and the growing significance of the Dublin logistics region, we are pleased to announce Deka Immobilien's first logistics acquisition in a market that excels with strong logistical fundamentals. This is another important step in our international expansion strategy and underscores our commitment to sustainable investments in prime locations for our special funds.’
According to CBRE Ireland, investment in Irish commercial property reached €600 mln between July and September, bringing the total investment volume for the year to €1.3 bn, the highest quarterly level since early 2023.
The largest transaction so far this year was the sale of the Square Shopping Centre in Tallaght, which sold for approximately €130 mln to Eagle Street.
