Blackrock International has bought an industrial building in Clonshaugh in Dublin from IDA Ireland for a total cost of €7.8m.
Situated in Clonshaugh Business and Technology Park, the property comprises a detached facility of 42,000 square feet, including 16,000 square feet of offices, on a site of 3.38 acres.
The building directly adjoins Blackrock's existing 330,000 square feet wearhouse and offices set on 30 acres in the same business park, the former Gateway premises.
Blackrock says the property is well positioned to generate strong rental returns in the short term. It says that Clonshaugh is set for 'significant growth' in the near future with the planned redevelopment of the Northside Shopping Centre.
The Fyffes' spin-off company also said the previously announced sale of its 8.82 acre site at Chesser Avenue in Edinburgh has now completed. The net proceeds of €20.8m have been received by the company in accordance with the agreed terms.
In April this year, Blackrock announced the sale of the former Edinburgh Fruit Market and a number of adjacent properties to a new 50:50 joint venture with Applecross Properties Limited.
