Chancerygate enters Irish logistics market with Dublin deal

UK urban logistics developer and investor Chancerygate has made its first foray into the Irish investment market by acquiring The North Gate Portfolio in Dublin.

North Dublin Corporate Park - Chancerygate

This portfolio comprises 12 fully occupied industrial assets, offering a total of 31,772 m2 of multi-let industrial and urban logistics space. Seven of the properties are located in Furry Park Industrial Estate in Santry, with the remaining five situated at North Dublin Corporate Park in Swords.
The assets boast strategic locations with excellent connectivity to Dublin Airport, major motorways (M50 and M1), the Dublin Port Tunnel, and the city centre. The diverse tenant base includes high-profile companies such as UPS, Euro Car Parts, The Panelling Centre, and Arkray Ireland.
Ed Dobbs, Chancerygate development director and head of the Irish office, commented: “Acquiring The North Gate Portfolio is a clear statement of our intent. We have the funds allocated to acquire further assets and to pursue speculative development, as we see a clear opportunity to benefit from Ireland’s robust economy and future prospects. These are matched by attractive investment fundamentals in the Dublin multi-let industrial (MLI) sector, which currently maintains one of Europe’s lowest vacancy rates.”
Chancerygate was advised by BNP Paribas Real Estate and McCann FitzGerald, while Savills and A&L Goodbody acted for the vendor.
This acquisition expands Chancerygate’s investment portfolio to over £700 mln (€835 mln) across the UK and Europe, encompassing more than 500 units and approximately m2 of commercial space. The company, which operates from its Dublin office, is also reaching practical completion on the €45 mln Airport Trade Park in Santry. This development totals 11,100 m2 and features 13 Grade A urban logistics units.
Currently, Chancerygate is actively developing or has a pipeline of over 59,900 m2 of Grade A multi-let urban logistics space across four European sites. In addition to the Airport Trade Park in Dublin, the company has two projects in Spain and one in Portugal, with a combined gross development value (GDV) of approximately £105 mln (€125 mln).
In the UK, Chancerygate’s development pipeline remains substantial, with around 195,000 m2 of urban logistics space under construction or ready for development across 13 sites, spanning from Manchester to Croydon.