Transactions - OCTOBER 16, 2020

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UBS acquires last-mile distribution facility in Northern Ireland

by Kali Persall

UBS Asset Management’s real estate and private markets business has paid €30 million ($35 million) for a last-mile distribution facility in Northern Ireland. The asset was purpose-built for online retail giant Inc.

The facility is situated across 9.5 acres in Belfast’s Titanic Quarter development, a large-scale waterfront regeneration campus. It consists of 83,915 square feet of purpose-built modern warehouse space, along with ample office and extensive parking facilities.

Amazon is leasing the entire property for a period of 15 years and will operate as the company’s sole distribution center serving the entirety of the Northern Ireland market.

“The continued acceleration of the global ecommerce market, the property’s exceptional covenant and the robust performance of the Northern Irish industrial sector provided us with confidence in the strength of this acquisition,” said Gijsbert van Riemsdijk, head of transactions Europe at UBS-AM re

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