On a five-acre plot in Santry, County Dublin, planning approval has been given for the construction of a 119,500-square-foot Grade A urban logistics park.

The project, which will be called Airport Trade Park, will have fourteen different unit sizes, ranging from 3,600 to 22,370 square feet.

The scheme will be developed speculatively by Chancerygate and Bridges Fund Management, as joint venture partners. Construction is scheduled to start in the fall of 2024.

According to Chancerygate, Airport Trade Park's estimated gross development value upon completion is around €40 million, or £34 million.

This is the first investment made in Ireland by the joint venture. Additionally, the company recently submitted proposals to construct 270,000 square feet of Grade A urban logistics space on a former Erdington, Birmingham, automobile component manufacturing site.

Each apartment at Airport Trade Park will benefit from solar photovoltaic panels, air source heat pumps, and charging stations for electric vehicles as it strives for LEED "Gold" certification.

Furthermore, 15% of the roofed space will be covered by the apartments, which will be built with high-performance building materials and roof lights to "assist in reducing occupational costs and related CO2 emissions."

"We know there is high demand from occupiers for modern, sustainable urban logistics accommodation with convenient transport links within the Greater Dublin area," stated Ed Dobbs, development director and head of Chancerygate's Irish office.

"By providing Grade A urban logistics space in key locations, Airport Trade Park will help meet this demand and put businesses in the best possible position to serve the local community and beyond."

Our strategic development into Ireland and subsequently into continental Europe has reached a significant turning point with the granting of planning. We are eager to move the program forward and will keep looking for new prospects in Ireland while we carry out our expansion strategies.

Guy Bowden, a partner at Bridges, continued, "We're excited that construction can finally start at this fantastic Dublin site.

In order to create one of the most environmentally friendly industrial buildings in Ireland, we plan to draw on our expertise working on projects of a similar nature in the UK. We think this building will appeal to a variety of occupiers who want to lessen both their environmental effect and operating expenses.