IPUT plans to further expand its logistics portfolio at Aerodrome Business Park

13 May 2020

IPUT plc, Ireland’s leading property company and the largest owner of offices and logistics assets in Dublin, has received planning permission for the development of two logistics units within Aerodrome Business Park in South West Dublin.

Full Planning Permission (‘FPP’) has been obtained for two large scale detached warehouse and office facilities of 120,000 sq. ft. (Unit G) and 160,000 sq. ft. (Unit Q), and the units – each on self-contained high profile sites – will be delivered to the highest sustainability credentials and international logistics standards.

This development follows on from IPUT making significant investments in logistics sector and its portfolio now extends over 2.4 million sq. ft. In 2019, IPUT acquired over 202,000 sq ft of logistics assets, received planning for the development of an additional 280,000 sq ft of high bay logistics space, and has the potential to develop a further 600,000 sq ft on its existing land bank in the future. In 2019, IPUT successfully let 185,000 sq. ft. modern logistics space at Unit 1 Dublin Airport Logistics Park to global logistics leader, GEODIS; and negotiated a 20-year lease with Dunnes Stores for the 325,000 sq. ft. logistics unit at Damastown Business Park, Mulhuddart, Co. Dublin, the largest Dublin logistics leasing deal since 2010. The Fund’s logistics portfolio of 32 buildings is currently at 100% occupancy.

About Aerodrome Business Park Unit G & Q Developments

IPUT intends commencing development of Unit G this year for delivery in 2021. It will extend to 120,000 sq. ft. and will be situated on a high-profile site of 5.72 acres at the Park entrance. It will have 14 metres (46 ft.) clear internal height, an FM1 class warehouse floor, 2 full height loading doors, 14 dock levellers (including 4 Euro dock levellers), 13 HGV spaces and yard depths ranging from 40 to 73 metres (131 to 240 ft.). Three storey CAT A offices and staff facilities will account for approximately 8% of the overall size and the offices will feature energy efficient, full height floor to ceiling glazing, raised access floors and high efficiency, best in class, heating, ventilation and air conditioning plant performance. 108 car parking spaces and 56 bicycle spaces will also be provided.

Unit Q will have identical features to Unit G, similar percentage office content but will have a larger site area of 7.8 acres, 2 full height loading doors, 18 dock levellers (including 4 Euro dock levellers), 22 HGV spaces and yard depths ranging from 50 to 56 metres (164 to 184 ft.). Given the fact that FPP is already in place for Unit Q, it is capable of being delivered in approximately 12 months.

Sustainability Focus

As with all IPUT development projects, sustainability is at its core and IPUT will be the first in Ireland to target LEED Gold accreditation in the logistics sector. Features of each of the BER A1 rated buildings will include, electric car (EV) charging stations, advanced building envelopes to improve thermal performance, on-site renewable energy production using roof mounted photovoltaic solar panels together with daylight harvesting, advanced sub-metering infrastructure and energy usage monitors, rainwater harvesting systems, LED lighting with occupancy controls and dedicated space for storage, and collection of recyclables to reduce customers environmental impact.

About Aerodrome Business Park

Aerodrome Business Park is a strategically connected, prime, established development in South West Dublin, just 1 minute drive time from the N7 (Naas Road). The Park affords excellent access to the national roads network and the N7 links Dublin with Cork, Limerick and Waterford. In excess of 1.33 million people are within 30 minutes’ drive of Aerodrome Business Park.

Unit G and Unit Q Aerodrome Business Park are available for letting under new medium to long term leases and the quoting annual rent for each building is €9.75 per sq. ft. (exclusive).

HARVEY, Industrial Property Specialists have been appointed as the letting agent for the properties.