Planning permission has been granted to construct a 119,500 sq ft, Grade A, urban logistics park, on a prime 5-acre site, located on the Swords Road, Santry, Co. Dublin.
A joint venture (JV) between developer Chancerygate and specialist sustainable and impact investor Bridges Fund Management, will speculatively develop the permitted scheme, comprising 14 units ranging from 3,600 sq ft to 22,370 sq ft in size.
Named Airport Trade Park, units on the 2.1-hectare (5-acre) site will be available for lease with construction due to commence in Autumn 2024. Once complete, the scheme will have a projected gross development value of around €40m.
The development represents the first investment in Ireland for the JV, which has successfully delivered similar projects in the UK for over 10 years.
The partnership acquired the site, situated 1.7km (1.1m) south of Dublin Airport and approximately 8km north of Dublin City Centre, from Carey Building Contractors in May 2022.
The site benefits from excellent connectivity, thanks to its proximity to the airport, M50 & M1 arterial routes, several bus routes and a proposed future MetroLink station at Dardistown, a major piece of public rail infrastructure linking Dublin Airport to the city centre, currently in the planning phase.
Airport Trade Park is targeting LEED Gold accreditation with each unit to benefit from electric vehicle charging points, photovoltaic (PV) panels and air source heat pumps. In addition, the units will be constructed utilising high-performance building materials. Roof lights, covering 15 per cent of roofed area, will assist in reducing occupational costs and related CO2 emissions.
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.”
Chancerygate is the UK’s largest urban logistics property developer and asset manager, with offices in London, Birmingham, Bristol and Warrington. In addition to Dublin, Chancerygate also has European offices in Madrid and Lisbon.
The company currently has around 10.77 hectare (1.16m sq ft) of urban logistics space under construction or ready for development across ten sites ranging from Edinburgh to Croydon.
Bridges is a specialist sustainable and impact investor. Its property funds focus on sectors that are well placed to benefit from the transition to a more sustainable and inclusive economy, including healthcare, lower-cost housing and sustainable logistics.
Bridges partner, Guy Bowden, 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.”
Bridges and Chancerygate have been working in partnership on projects for more than a decade. Investments include acquisitions of sites for industrial development in Leeds and Coventry; the regeneration of Beeston Business Park, Nottingham; and the development of ‘The Curve’, a student housing development in London.
