The real estate arm of Switzerland’s UBS Asset Management has bought an Amazon logistics hub in Belfast that is set to become the online retailer’s only distribution centre in Northern Ireland.
The prime “last mile” distribution facility in the Northern Irish capital was acquired for £27 million (€30 million) from Titanic Quarter – the business quarter known for the construction of the infamous ship of the same name.
Last mile distribution is the delivery of goods from a warehouse or logistics hub to their ultimate destination.
The purpose-built warehouse was completed in September this year and is fully leased to the tech giant for the next 15 years.
Gijsbert van Riemsdijk, who leads non-Switzerland transactions in Europe at UBS-AM Real Estate & Private Markets, said: “The continued acceleration of the global e-commerce 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.”
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