M7 acquires Westlink Industrial Estate Dublin for €13.9 million

5 December 2018

London, 5th December 2018 – M7 Real Estate (“M7”), the pan-European investor and asset manager, announces that it has purchased Westlink, a large multi-let industrial estate on the Kylemore Road, Ballyfermot, Dublin 10 in the Republic of Ireland, on behalf of an M7 managed fund. The asset has been acquired from a private investor in an off market transaction for a total of €13,870,000, which equates to €72.36 psf and reflects a Net Initial Yield of just under 7%.

Westlink Industrial Estate is located in the suburb of Ballyfermot, 7.5 km west of Dublin City Centre. The estate is strategically located approximately 3km from Junction 9 (Red Cow) of the M50, the main arterial road in Dublin. The well-known estate comprises 31 units and extends to approximately 192,000 sq ft.

Dublin has suffered a severe shortage of modern industrial stock over the last few years and against this backdrop, M7 will commence extensive upgrade works almost immediately to enhance the current offering and provide much needed, newly refurbished space to the market. The comprehensive repositioning of the asset, which has a 22% vacancy, will provide a platform to implement a lettings programme.

John Murnaghan, Head of UK and Ireland Real Estate at M7 said: “We are extremely pleased to have acquired Westlink which provides us with the rare opportunity to acquire an almost unbroken, quality estate in one of Dublin’s core industrial areas. We believe that Dublin Industrial close to the M50 is set to continue strong performance over the coming years. This is a great value add opportunity to apply an extensive programme of upgrade works across the remaining vacant units to further enhance the quality of the estate, improve occupancy levels and rapidly secure rental growth.”

Newly refurbished units from 4,800 sq ft to 21,200 sq ft will be available to let from Q1 2019. JLL and CBRE are acting for M7 as joint letting agents.

M7 shortlisted for "Entrepreneur of the Year" and "Fund Manager of the Year" for Property Awards 2019

13 February 2019

M7 Real Estate is pleased to announce that it has been shortlisted for both the "Entrepreneur of the Year" and "Fund Manager of the Year" titles for the esteemed Property Awards run by Property Week. read more

M7 appoints Tony Edgley as Non-Executive Chairman

12 February 2019

London, 12 February 2019 – M7 Real Estate (“M7”), the pan-European investor and asset manager, has appointed Tony Edgley as non-executive chairman. Tony succeeds Hugh Ellingham who has taken up an executive role with the Group as CEO of the newly formed M7 Developments. read more

M7 Real Estate sells the office building 'Campus Offices' in Diemen to Greystar

8 February 2019

M7 Real Estate Netherlands B.V. announces that, on behalf of M7 Real Estate Investment Partners IV Dutch Propco 2 B.V. (M7 EREIP IV Dutch Propco 2 B.V.) it has sold the asset “Campus Offices” to Greystar. The office building is located at Dalsteindreef 141-151 in Diemen and is approximately 3,670 sq m with 56 parking spaces. read more