Thursday, July 7, 2022
Real EstateUK

Asset manager M7 Real Estate secures new lettings

Asset manager

The pan-European investor and asset manager has secured four new lettings within its Dublin portfolio of industrial and logistics properties

Investor and asset manager M7 Real Estate has secured four new lettings across three schemes within its Dublin portfolio of industrial and logistics properties.

In the first instance, M7 has agreed a deal on behalf of a major financial institution with the HSE for 12,800sq ft of warehouse and office space at unit 8 North Park. The subject property has been acquired on behalf of the ambulance service on a new 10-year lease following a full refurbishment.

The second deal sees Clevamama, the baby products and nursery brand retailer founded by sisters and mothers Martina Craine and Suzanne Browne, taking 11,400sq ft of newly refurbished warehouse space on a 10-year lease at B3A Airport Business Park.

The third transaction, meanwhile, sees Screwfix Ireland leasing unit 3 at Westlink Industrial Estate. The subject property comprises 5,850sq ft and will be occupied by Screwfix on a 10-year lease. The building underwent an extensive refurbishment in the second half of 2020 on a speculative basis and terms were agreed with Screwfix in advance of its practical completion. Screwfix is the UK’s largest retailer of trade tools, accessories and hardware products and is part of the Kingfisher Group, which also includes B&Q, Castorama and Brico Dépot.

The fourth and final letting sees Commercial Interior Supplies (CIS) expanding its existing footprint at Westlink Industrial Estate with an agreement for unit 27 (5,808sq ft). CIS was one of a new generation of tenants to enter the estate in 2017 when occupiers were seeking a trade counter location with the security of a managed business park.

Since acquiring the Westlink scheme for €13,870,000 in 2018, M7 has invested about €1.5 million as part of its asset management programme. Westlink is situated in Dublin and comprises a combined area of 195,000sq ft of light industrial space.


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