Irish property group IPUT Real Estate has secured a significant coup with global logistics operator Maersk by signing for a total of 252,000sq ft of space at its latest logistics scheme in Dublin.
News of Maersk’s decision to locate its operations in unit 3 (178,000sq ft) and unit 4 (74,000sq ft) at Quantum Logistics Park near Dublin Airport follows international retailer Harvey Norman pre-let agreement last December for unit 2 (91,524sq ft) and DHL’s pre-letting of unit 1 (206,000sq ft) earlier this summer.
The completion of the three deals brings all 549,524sq ft at the north Dublin scheme to full occupancy in advance of its ultimate completion in the second quarter of 2023.
Located at Kilshane Cross and within a short drive of Dublin Airport, the Dublin Port Tunnel, Dublin city centre, and the M50 and wider motorway network, Quantum Logistics Park is being developed to the highest sustainability standards in the market with LEED Gold and BREEAM Excellent ratings.
As part of the development, IPUT has upgraded the Kilshane Road to the north of the park and invested in the scheme’s public realm through the provision of a landscaped central amenity area, multi-use games area, a running track and a specially commissioned piece of sculpture.
In the case of Maersk’s facility in unit 4, Iput is set to deliver Ireland’s first net-zero carbon logistics building. The developer aims to achieve this through the use of a variety of sustainability initiatives, including a glue-laminated timber structural frame and cross-laminated timber roof structure. In doing so, Iput says it intends to support Maersk in its own ambition to achieve net-zero greenhouse gas emissions by the year 2040. Unit 4 at Quantum Logistics Park will be the first logistics unit of its kind in Maersk’s global portfolio.
Commenting on his company’s successful pre-letting of the entire Quantum scheme, Iput CEO Niall Gaffney said: “Our ambition for Quantum Logistics Park was to set a new sustainability standard for logistics in Ireland and attract global occupiers to our developments. We have experienced strong demand for all four units and are pleased to have pre-let the entire park. In particular, we are pleased to work with Maersk to deliver Ireland’s first net-zero logistics building which will support their 2040 net-zero ambition.”
Simon Smith, country manager for Maersk Ireland, added: “We are delighted to partner with IPUT on our two new warehouse and distribution facilities in Quantum Logistics Park. This is a really important next step for Maersk in the Irish market which allows us to add significant capabilities for our customers, as we continue to offer integrated end-to-end solutions for their supply chains. It is also with great pride that sustainability will sit out at the forefront of these facilities.”
Iput currently has a portfolio of 2.6 million sq ft of logistics assets, the largest portfolio of prime logistics assets in Ireland. The company’s active logistics pipeline extends to over 1.4 million sq ft and will increase the total portfolio to around four million sq ft. The developer’s recent acquisition of 118 acres of land adjacent to Nexus Logistics Park near Dublin Airport meanwhile has the potential to add up to 1.6 million sq ft of logistics space to its portfolio, bringing its overall holding to 5.6 million sq ft.
