Blackrock International Land has bought a large industrial investment property in Santry in Dublin for about €10m, including costs.
The property comprises a third generation detached distribution facility of 6,190 m sq, including 1,210 m sq of office accommodation, on a site of 3.35 acres.
The building is situated within Woodford Business Park which is 7km north of Dublin city, 2km from Dublin airport and close to Dublin Port Tunnel, M50 and M1.
Blackrock says that given its prime location, the property is well positioned to generate attractive levels of income while at the same time offering longer term redevelopment potential.
'This purchase brings total investment expenditure by the Group since its listing to €38.5m, thereby increasing gross property assets in the period by almost 20%', commented Blackrock Chairman Carl McCann.
He added that a number of additional transactions are being actively pursued at this time.
Blackrock was spun off from fruit distributor Fyffes in May. Fyffes shareholders have a 60% stake in Blackrock, with Fyffes holding the remainder.
