AIM-listed developer Blackrock International Land has carried out two deals this week buying an industrial property in Dublin and completing the sale of the former Edinburgh Fruit market site.
It has bought the freehold of a 42,000 sq ft industrial building in Clonshaugh Business & Technology Park, Dublin for €7.8m (£5.6m).
The building, which also includes 16,000 sq ft of offices, next to Blackrock’s existing 330,000 sq ft warehouse and offices on a 30 acre site on the same business park. The freehold was sold by Ireland’s Industrial Development Authority.
Blackrock managing director Robert Knox, said: ‘This purchase increases our investment in Clonshaugh where we see strong potential for growth because of its strategic location on the M1 close to Dublin airport and the Dublin port tunnel.’
In Edinburgh, Blackrock has sold the former 9 acre Edinburgh Fruit Market site for €25.7m (£18.4m) to the 50:50 joint venture it set up with Applecross Properties. Following the sale €20.8m (£14.95m) has been realised after Blackrock’s equity contribution to the joint venture of €4.9m (£3.5m).
The site has outline planning consent and the first phase of development will start in the second half of next year.