Lisney advised IPUT in the off market acquisition of Uniphar’s premises in Citywest for approximately €26.5m in a sale and leaseback transaction.
The property which was purpose built for Uniphar plc in 2009 is widely acknowledged as a world class facility comprising state of the art distribution and offices with 300 car parking spaces on a site of 4.74 ha (11.73 acres).
Uniphar is a leading wholesaler and provider of services in the pharmaceutical and healthcare sector in the Republic of Ireland. It is largely owned by community pharmacists, has a diverse customer base and has an annual turnover in excess of € 1bn.
Michael Clarke, Head of Investment at IPUT said “The acquisition of this world class logistics facility which will deliver strong income returns is consistent with IPUT’s investment strategy to invest in international quality assets which dominate their respective sectors. ”