Green REIT's Horizon Logistics Park, situated near Dublin Airport Green REIT’s Horizon Logistics Park, situated near Dublin Airport

The first pre-sale of a new warehouse facility in Dublin for seven years has taken place at Green REIT’s Horizon Logistics Park, signalling further signs of a recovery in the industrial market.

Fynes Logistics has just agreed to buy a 2,044sq m (22,000sq ft) industrial unit at, which is under construction at Horizon, for more than €3.4 million.

This is the first spec-built industrial unit in the Dublin region for quite some time.

Green REIT acquired the Park, situated beside Dublin Airport, as part of the Project Arc sale in November 2013.

“Not only is this the first pre-sale of a new warehouse facility of great significance, but it further recognises that there is a very significant shortage of quality, modern industrial units in Dublin,” says Nigel Healy of JLL, letting agent for the park.

Green is also on site at Horizon constructing a spec-built warehouse which will provide some 4,134sq m (44,500sq ft) of quality space including some 372sq m (4,000sq ft) of office accommodation.

It will be finished in the first quarter of 2016 and the spec will include a 10-metre clear internal height and significant loading yards.

Horizon Logistics Park includes 100 acres of zoned and serviced industrial land close to junction 4 on the M50.

Its position abutting the southern boundary of Dublin Airport and close to the Port Tunnel has already made it the home of choice for businesses such as Ceva, Kuehne & Nagel, Kintetsu Worldwide Express and Expeditors Ireland.

The park has the capacity to supply more than 92,903sq m (one million sq ft) of industrial space.

Read the Irish Times report on the sale here