Urbeo announces the recent acquisition of prime logistics facility at Kilcarbery Distribution Park.
Acquired in partnership with ICG Capital, the 215,000sq ft prime logistics facility at Unit F, Kilcarbery Distribution Park, is situated in southwest Dublin, between the N7 and N4 motorways. It was acquired from a private Irish investor and is expected to offer strong value-add and reversionary potential for the new owner, with all existing tenancies due to expire within 24 months.
The building, constructed in the early 2000s, is currently multi-tenanted, with PRL Group and JMC Van Trans occupying the circa 185,000sq ft of logistics space. The property is located in the desirable logistics N7/N4 corridor, with excellent access to regional transport routes
The acquisition is Urbeo’s first non-residential property acquisition since it was founded in 2018. Through its U by Urbeo brand, Urbeo has delivered more than 2,000 build-to-rent homes in Dublin, in partnership with Starwood Capital.
“Urbeo is delighted to complete this acquisition with ICG Capital. Unit F promises strong value add potential in an undersupplied prime logistics market. This acquisition comes as the first non-residential acquisiton for Urbeo, and forms part of our ongoing strategy to expand our portfolio across asset classes in the Irish market” - Athony Sweetman – Managing Partner.
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