- Q2 was another healthy quarter of activity in the logistics and industrial sector, bringing the total for H1 to 145,630 sq m which is 6% ahead of the same period last year.
- The largest deal of Q2 was the pre-let of Unit P2, Horizon Logistics Park, Co. Dublin – a 10,510 sq m design and build warehouse – by WestRock.
- The pipeline remains tight. 67% of the space completed in Q2 was already pre- let.
- While prime rents remained stable within the €129-€135 sq m range, upward pressure is possible before year-end, driven by tight supply.
- €48.6 million worth of logistics and industrial assets transacted in Q2, 15% of the total investment spend in Ireland in Q2, bringing the total for H1 to €163.3 million.
- The largest transaction of Q2 was the sale of the Davy Portfolio, a collection of assets based in West Dublin, to M7 Real Estate for €22.3 million.
- Investment activity is expected to be constrained into H2 due to tougher lending conditions but also due to a lack of opportunities.
Joan Henry, Chief Economist & Director of Research
